Comarch rolls out mobile banking for corporates
Polish IT specialist Comarch has launched a mobile business banking solution aimed at banks that want to give corporates, SMEs and micro business customers a mobile offering.
Its features include helping corporates to monitor their credit card expenditure, providing invoice support, cash flow risk detection, and push notifications to remind the corporate of payment deadlines or outstanding invoices. It also helps corporates to process packaged transactions, as well as non-transactional orders. The idea is to provide a mobile solution to corporates to help them better keep track of their business.
The service is already being used by the Netherlands’ ING Bank, and can be integrated with loyalty schemes and external value-added services offered by third parties. Along with its specifically corporate abilities, it also includes standard mobile banking features such as allowing customers to view account information, list and search transactions, view exchange rates, make transfers and payments, receive push notifications of payments and balances and information on nearby branches, as well as reporting lost or stolen credit cards. The system also uses hierarchical access to account data to ensure security.
“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,” said Adam Walendziewski, head of product management department at ING Bank. “Statistics and application usage have shown so far that a mobile channel for corporates is the right direction to go.”
Mobile banking is gradually increasing in popularity among business customers. According to research from analyst firm Aite, two thirds of UK treasury executives would use mobile banking to run their corporate accounts. Comarch added that mobile business banking should help banks to reduce consumer churn and improve the loyalty of their customer base.
“Companies large and small are demanding secure digital services in an increasingly global, mobile and data-driven marketplace,” said Jonathan Withers, director of banking at 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.”
Mobile offerings for corporates are not confined to Europe. In September, Standard Chartered launched a mobile wallet service targeted at corporate clients in Kenya. The service was developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The deal was marketed by the bank as the start of a major drive to open up financial inclusion in emerging markets.