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Comarch launches mobile business banking solution in the UK
Oct 24, 2013

October 15th 2013 - Innovative features tailored specifically for business will help banks attract new customers and drive greater loyalty from existing customers.

Global software & IT specialist Comarch today launches its Mobile Business Banking solution which allows banks to offer their corporate, SME and microbusiness customers dedicated business banking services on the go. The service is already being used by major financial institutions, such as ING Bank.

- Decision makers and CFOs of large enterprises find the application really helpful as they can process and approve orders while being away from the office. Statistics and application usage have shown so far that a mobile channel for corporates is the right direction to go. said Adam Walendziewski, Head of Product Management Department, ING Bank and Comarch Mobile Business Banking customer.

The popularity of mobile banking is increasing among business customers. Two thirds of UK treasury executives would use mobile banking to run their corporate accounts according to research from Anite. However the market remains underserved with 3.5m microbusinesses lacking access to mobile banking services (Finextra, 2013). Mobile business banking will allow banks and other financial institutions to reduce churn, and improve loyalty. By migrating customers to the lower-cost mobile channel, there is an opportunity to not only reduce costs but also to unlock new revenues for the bank.

The Comarch Mobile Business Banking solution is designed and built specifically for Corporations, SME’s and Micro customers, with tailored features, functionality and state-of-the-art security for each business segment not commonly found in rival alternatives, including:

- Approval workflows aligned with internet banking procedures
- Monitoring of credit card expenditure, limits and payoff days.
- Processing of packaged transactions, mass approvals and other non-transactional orders
- Invoice support - notifying payment deadlines or outstanding invoices
- Integration with loyalty schemes and external value-added services
- Cash flow risk detection, with push notifications

The system also offers several unique features targeted at corporate banking customers such as hierarchical access to account data, a full approval system aligned with internal procedures and underpinned by state-of-the art security.

Standard features include allowing customers to view account information, list and search transactions, view exchange rates, make transfers and payments, get push notifications of payments and balances, and location-relevant information on nearby branches, report lost or stolen credit cards.

"Companies large and small are demanding secure digital services in an increasingly global, mobile and data-driven marketplace," said Jonathan Withers, Director of Banking, Comarch UK. - UK banks that seek to meet these demands have the opportunity to be a leader in customer servicing, beating their rivals to the punch. Business banking is entering a period of flux, with new entrants looking to meet the needs of a neglected market sector – a sector that demands more than the rebadged retail banking solutions that are currently being offered.

 

Re-disseminated by The Asian Banker

Categories: Technology & Operations
Keywords: Comarch



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