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Digital corporate banking refers to providing corporate banking services such as account onboarding, account set up, account management and maintenance, and transactions management, all through online digital channels. Digital corporate banking enhances convenience, experience and access for corporate clients by providing integrated account services in an easy to navigate, self-serve manner.
For banks, the business benefits of digital corporate banking include easier and faster customer acquisition, enhanced customer experience (and hence customer loyalty), faster development and rollout of new and innovative products and services. It also reduces cost of operations, focuses sales and operations on value-add services rather than administrative tasks, and reduces investments in fixed assets.