Advisory firm Celent recently referred to corporate-to-bank channel connectivity as a critical enabler for businesses as they expand. Application programming interface (API)-enabled connectivity supports multi-bank connectivity and data aggregation and enterprise resource planning (ERP), treasury management systems (TMS), and accounting software integration.
Corporate APIs have lagged consumer APIs in services such as real-time views of cash balances, with open banking being a catalyst for consumer use cases. But this is changing according to Kerstin Montiegel, head of client connectivity at Deutsche Bank, who says the cost-return ratio is now moving in favour of corporate adoption.
The pandemic, the war in Ukraine, inflation, and the disruption of global supply chains … have made multinational corporations realise the weaknesses of manual treasury processes
Kerstin Montiegel, Deutsche Bank
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