All the buzz around mobile payments and financial services seems to be focused on the consumer space. There must be opportunities around leveraging this platform for Large Corporates and SME's, but I don't hear too much on this area. Some possibilities ?
- Enhanced security for validation of payments instructions sent in electronically or manually.
- Alerts to treasurers / CFO's / Business owners on high value transactions - whether incoming or outgoing - with limits set by the individuals.
- Alerts to SME sector on status of transactions
- Alerts on major market movements- Interest rates, Foreign exchange rates, Stock prices, Corporate actions.
- Corporate card alerts and reminders - similar to what is already available on personal cards.
- Quick look access to balance positions - across accounts , across countries - a portal onto Electronic Banking
- Access to research and articles - although have seen some of the high end investment banks and Wealth Managers moving into this space.
As with other initiatives around corporates, unlikely that there will be incremental revenues generate by this capability, but definitely a nice "Bell/Whistle" to distinguish your offering from your competitors - especially in the increasingly commoditized product space.
Revenues flows will come from B2C and B2SmallB space
- Payments to temporary employees
- B2C payments - with alerts to beneficiaries
- Payments to small suppliers
- Benefits payments
- Reward payments/cash-backs/'Mail-in" rebates
Basically leveraging capability being developed around the consumer space and packaging service offering to large clients to enable their access to this space. Haven't seen any of the large banks making any moves in this space. Looks like this space is owned by their Retail Bank arms with little effort on cross fertilisation/cross sell.
Will keep looking to see if I can find out more
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