Introduction
Choosing the best bank for businesses is very similar to choosing the right job candidate. Businesses need the bank to have the right qualities and abilities to help the business owners to achieve their goals and move the business forward. Over 70% of them are actively looking for a new bank to meet their needs. To attract new medium and small businesses, banks and credit unions are offering various bonus features for their business bank accounts.
Modern corporate banks work closely with their clients to determine which banking products and services best suit their needs, such as business checking accounts, credit cards, treasury management, loans, and even payment processing. In some cases, they may reduce or waive fees, and may offer better terms, such as a lower fee or interest rate on a loan. They can also provide financial information and advice to help their clients to achieve business goals. Medium and small businesses prefer banks that offer a full suite of business banking products and services, including business checking and money market accounts, online banking, complete payroll solutions, business credit cards and fraud insurance. Proper business banking software solutions with business-oriented features allow the implementation of these products and services for banks’ clients and help banks to stay competitive and cutting-edge.
Issue
The classic banking platforms allow businesses and customers a variety of features. Most products deliver fragmented tools, time-consuming loan applications and inefficient manual processes. Moreover, some of them don't have special business-oriented functionality and focus mainly on individual clients.
There are three main areas in which the platform approach expands the capabilities of corporate banks:
First, is customer focus. The digital banking platform enables banks to deliver the engaging omni-channel banking experience and personalized products that customers expect today, increasing customer loyalty and driving the new digital wave.
Second, internal optimization - it modernizes legacy IT infrastructure, digitizes and automates business processes, integrates channels, and unifies customer data.
And last, ecosystem readiness - a digital banking platform with a modern open architecture allows banks to connect to their ecosystem through APIs and take advantage of open banking convenience, fintech collaboration, and more.
The Solution
With Velmie, become the go-to business banking app: from bill payments and payroll to loan applications and cash flow forecasting. We offer customer businesses one single platform with ready-to-go apps allowing them to do business efficiently and earn more thus helping our business partners to contribute to customers' achievements.
Onboard and upsell customers
Opening a business account or applying for a line of credit will take a few clicks. With Velmie, you can make account opening and product origination smooth, hassle-free, and compliant. This means higher completion rates and more importantly, happy customers. Plus, you can cross-sell products while onboarding, and speed up product applications with pre-filled forms.
Become the preferred banking app. Banking essentials and much more
From essentials like payments & transactions to advanced capabilities like cash flow forecasting and trade finance, Velmie delivers end-to-end customer journeys that cover the full scope of digital business banking.
Connect to FinTech
Velmie connects top-tier financials and best-of-breed fintechs - all in one place - elevating the customer experience. Offer your business customers all the financial services they need, harnessed in one seamless experience.
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Elevate customer service
Enable your customer-facing teams for swift service, quick resolution, and upselling. By using one unified digital application that frees them from multiple system logins, and that offers a 360° customer case overview as well as all servicing capabilities. This means fewer front office applications and more time for your employees to resolve issues and personalize customer service.
Engage customers
Velmie empowers your marketing teams with all the tools and data they need to craft targeted banking campaigns, directly in their banking apps. As well as deliver personalized advice, product offerings and suggestions to specific audiences, groups, and segments.
Features
Payments & Collections
Streamlined solutions for P2P payments, wire transfers, local payment times, bill pay, remote deposit capture and more.
Cash Management
Cash flow forecasting, income & expense management and more allow businesses to manage their day-to-day business activities with confidence.
Business Financing
Fast and easy loan application journeys that enable your customers to grow their businesses and make smarter business decisions.
Trade Services
Whether it's dealing with trade operations like letters of credit, or guarantees and documentary collections, it's all done effortlessly and dynamically.
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