Open Banking and TPPs trigger banks to innovate their corporate onboarding processes

  • Josje Fiolet Esther Groen
  • PSD2Open BankingCorporate Onboarding

PSD2 has been an important catalyst for banks to open up. While many banks in Europe are still focused on making the PSD2 deadline of September 2019, we see some leading banks move beyond compliance and shift towards Open API Banking. In this emerging Open Banking play, banks start to understand that enabling secure access to customer data is the new money, an outstanding customer experience is pivotal, and trust is the primary condition.

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Third Parties and Corporate Banks: Digitally Transforming the Corporate Onboarding Process

  • Josje Fiolet Esther Groen
  • PSD2Open BankingOnboardingCorporate Onboarding

The concept of Open Banking and its potential grows steadily on corporate banks. PSD2 has been an important catalyst for banks in opening up, however, it forced them to focus on complying first, leaving little leeway to innovate beyond PSD2.

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Digitally transforming the corporate client onboarding process: where to start?

  • Josje Fiolet Jorrit Penninga
  • OnboardingTransformationKYCCorporate Client OnboardingCorporate BankingFintechCorporate Onboarding

Technology has enabled innovation, but Financial Institutions (FIs) are not using its potential to improve their corporate client onboarding processes. This is contrary to what we see in the retail market, where the digital transformation is proceeding at full speed.

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Corporate banks and FIs: what’s the ETA of your onboarding process?

  • Esther Groen
  • PaymentsDigital identityOnboardingCorporate Onboarding

Rapid technological development drives innovation of customer processes in many sectors. Yet, corporate banks and FIs are holding on to their current, outdated corporate onboarding processes. Innopay believes that banks and FI’s need to step up their game if they want to remain relevant in the future. This first blog of a series of two elaborates on the competitive advantage of a customer centric onboarding process and describes six causes for many corporate banks and FIs to be lacking behind.

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