Digital corporate banking lets businesses access their accounts and financial services at any time, anywhere. It simplifies financial processes, reduces errors, and also saves money. It also provides real-time information and insights to aid businesses in making educated business decisions and quickly respond to market changes.

Financial industry has embraced digitalization to offer a streamlined experience to their customers. Traditional banks, insurers, and fintechs have all embraced new technology. But one area in which this has been a challenge is business banking. This sector’s massive commercial loans and international transactions across multiple systems, and the complicated management and advice it requires aren’t suited to the simplicity of two clicks in consumer banking.

But that doesn’t stop the sector from moving into the digital age. It’s just that it needs to think differently and use the combination of human and digital client services to meet the varied needs of different business segments. For example an approach that is digital to self-service tools for small businesses could be combined with human interaction with an account manager who is senior to larger corporations and mid-market companies.

In fact the June issue of PYMNTS The Next-Gen Commercial Banking Tracker reveals that when banks change their relationship models to include digital tools, they can shorten the timeframe for corporate lending from months to a matter of hours without sacrificing the personalized experience that corporate customers expect. Check out the full report to find out more. It also outlines click here for more other trends that are emerging in this field.