Riding the Digital Wave in Cash Management

by Klaus Josef Müller, Head of Product Management Cash Services, Commerzbank AG

The payments and cash management market is in transition. Online and mobile banking trends, as well as the ongoing digitalisation of society, are changing treasurers’ expectations. Yet banks have traditionally been slow to innovate and stay ahead of the digital curve. As such, how can they take advantage of the digital opportunity to build products and services attuned to changing customer demand?

The requirements placed on businesses are changing. With increasing digitalisation and growing pressure to become more efficient, especially with respect to their cash management and payment structures, more and more decision-makers are attaching the highest strategic relevance to the digitalisation of entrepreneurial processes.

However, digital technology has not yet transformed corporate banking the way it has other industries, and banks have a reputation for being conservative and slow to innovate, especially in a world with increased regulatory constraints and outdated IT architecture. As such, banks will have to adapt quickly if they want to keep pace with their corporate clients who are embracing technological innovation within their own businesses.

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