E Banking
The Adoption of Web-based Cash Management Systems
Technology
1. Banks and corporates are moving from corporate Internet banking solutions to web-based cash management systems.
2. Web-based cash management systems allow banks to offer a wider range of products and more integrated solutions to their customers.
3. For banks to do this successfully, enabling an integrated view of the client relationship is key.
4. Standards-based technology and open architectures are enabling banks to address the challenges and provide flexibility.
The Internet and web technologies have already left their indelible mark on the way the world functions. The rise of the Internet towards the end of the 1990s, followed by the dot-com boom and eventually the dot-com bust, was not surprising. After all, in those heady days, strategies were disregarded, business plans were thrown out of the window and the need for business models were redundant. It was tempting to dismiss the Internet as an idea whose time had not come. Fortunately, common sense prevailed. Introspection resulted in one deafening conclusion we need the Internet. However, we also need business plans, business models and a good understanding of how we can leverage the power of the Internet. Retail customers quickly accepted Internet banking. It was no surprise that it was only a matter of time before banks and their corporate customers began jointly exploring the mutual benefits that could possibly accrue to them by leveraging the Internet.
Evolution of Web-based Cash Management Systems
The central role that financial institutions play in the activities of their corporate customers has never been disputed. From the traditional role of being financiers, to holding cash and investments, to handling payments and settlements, banks today are closely linked with the activities of their corporate clients. While it may be argued that the role...
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