The next phase of digitising corporate banking in a hyper-connected world

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Senior executives and heads of digital banks across Asia Pacific discussed how open banking frameworks and secured APIs can scale up financial services offerings. The dialogue also highlighted challenges and opportunities of utilising cloud-based solutions for connectivity, agility, and sustainability.

Phan Thanh Sơn, deputy CEO, head of global transaction services of Techcombank Việt Nam highlighted that the first priority for corporate banking is cash visibility by managing companies’ payables and receivables, reducing cash management operations, and managing supply chain transactions and data.

Kaiwan Turel, head of payment advisory, global payments solutions of HSBC Asia Pacific, mentioned that the key focus area for transforming corporate banking is utilising digital solutions to scale up operations to provide customer-centric products and innovate end-to-end customer experience.

Mark Willis, managing director and global head - API and open banking ecosystems of Standard Chartered stated that real-time treasury is shifting towards broader solutions that require optimised liquidity management. Moreover, leveraging APIs' real-time capabilities enhance user experience. Michael Christopher Cruz, vice president, usage and strategic businesses head of Rizal Commercial Banking Corporation (RCBC) said banks in the Philippines face challenges in digitising corporate and SME banking when dealing with businesses in rural areas that rely on cash. Hence, banks must adopt the right digital solutions for customer needs and offer greater personalised experience.

Frankie Wai, business solution director APAC of Temenos emphasised that ever-changing customer demands, evolving regulations, cyber security concerns, sanctions, fraud, and the impact of the pandemic have created an urgency for banks to digitise corporate banking and core systems.

Key discussion points:

  • How a composable banking approach can advance FIs capabilities at scale through open and secure cloud-native platforms?
  • Utilising open banking APIs to build resilient real-time transactional services, enhance risk controls and meet regulatory compliance.
  • The rise of embedded finance and banking-as-a-service to personalise the end-to-end customer journey.
  • Identifying challenges and best practices for integrating new and emerging solutions to achieve greater hyper-personalised experience.

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