Unveiling the Inner Workings of Corporate Online Banking, or Internet Banking for All Business Cases
June 17, 2024, 9:42 pm
In the realm of banking, the largest corporate clients still consume digital services with a design from the 2000s, often lacking access to mobile applications, and this is not due to policy or sanctions.
The reality is that in banks, companies are segmented into small, medium, and large businesses. For example, the small business segment includes all companies with a turnover of up to 500 million rubles, and so on.
Typically, these segments are served by different teams, down to separate departments for each area. And these categories are served differently. Small businesses receive services very similar to those for individuals - they have a mobile application and an internet bank where they can do everything they need on their own.
Large businesses receive "boutique service" - client managers visit them, everything happens, of course, offline. On one hand, this is "premium" because of the individual approach, and the client is provided with the highest quality offline service. In my opinion, the digitalization of this segment is still weak. And if an employee of a large corporation needs to use a digital service, they will interact with ancient software developed somewhere in the 2000s, or even the 90s.
Respected readers, this article aims to shed some light on our banking backstage and my attempt to explain why we decided to create such an internet bank for all clients. Colleagues and comrades, do not be offended by me :) I will sprinkle ashes on my head and laugh at myself a bit. Well, because "historically it happened that way."
A bit about myself. I am currently developing an internet bank for legal entities at Alfa-Bank, before that, I launched a B2B ecosystem at Sber, before banks, I worked at VK (ex Mail.ru Group) and "Yandex," where I came up with and launched "Yandex Disk." Recently, I launched my own author's telegram channel, where I write about fintech, management, reflect on the eternal struggle of a hedonist and a health enthusiast - in short, about everything that interests me today, subscribe!
What products are available in the online banking market
First, let's look at what products are available on the market to make it easier to navigate how product lines differ in banks.
Basic banking products
We won't describe basic banking products in detail, as they are well known to readers in the banking industry, and others may find it boring, so we'll just skim the surface.
RKO (settlement and cash services) - accounts and payments to counterparties.
Card products.
Salary project.
Non-banking services
In the West, they are called VAS (Value-added services), in Russia, they are called non-banking or non-financial services, although they are already quite banking and financial, but they have been given this name.
The reality is that in banks, companies are segmented into small, medium, and large businesses. For example, the small business segment includes all companies with a turnover of up to 500 million rubles, and so on.
Typically, these segments are served by different teams, down to separate departments for each area. And these categories are served differently. Small businesses receive services very similar to those for individuals - they have a mobile application and an internet bank where they can do everything they need on their own.
Large businesses receive "boutique service" - client managers visit them, everything happens, of course, offline. On one hand, this is "premium" because of the individual approach, and the client is provided with the highest quality offline service. In my opinion, the digitalization of this segment is still weak. And if an employee of a large corporation needs to use a digital service, they will interact with ancient software developed somewhere in the 2000s, or even the 90s.
Respected readers, this article aims to shed some light on our banking backstage and my attempt to explain why we decided to create such an internet bank for all clients. Colleagues and comrades, do not be offended by me :) I will sprinkle ashes on my head and laugh at myself a bit. Well, because "historically it happened that way."
A bit about myself. I am currently developing an internet bank for legal entities at Alfa-Bank, before that, I launched a B2B ecosystem at Sber, before banks, I worked at VK (ex Mail.ru Group) and "Yandex," where I came up with and launched "Yandex Disk." Recently, I launched my own author's telegram channel, where I write about fintech, management, reflect on the eternal struggle of a hedonist and a health enthusiast - in short, about everything that interests me today, subscribe!
What products are available in the online banking market
First, let's look at what products are available on the market to make it easier to navigate how product lines differ in banks.
Basic banking products
We won't describe basic banking products in detail, as they are well known to readers in the banking industry, and others may find it boring, so we'll just skim the surface.
RKO (settlement and cash services) - accounts and payments to counterparties.
Card products.
Salary project.
Non-banking services
In the West, they are called VAS (Value-added services), in Russia, they are called non-banking or non-financial services, although they are already quite banking and financial, but they have been given this name.