Convergence in Corporate Banking
If we just focus on the Transactional Services that form a part of Corporate banking, it is obvious that it has undergone an amazing level of transformation in terms of complexity. In the early days, Cash, Trade and Treasury operations were largely transactional silos with specific purposes. Each had a role to play and did just that in isolation.
Then 4 important developments took place:
a) The Information Age came along and brought with it certain demands that businesses organized as above simply could not meet.
b) Working Capital Management requirements of corporates grew exponentially
c) Technology, often the laggard, started coming of age and provided an opportunity to businesses looking for a catalyst to drive their reorganization needs. Drop in communication infrastructure costs and creation of standards are cases in point.
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