In today’s increasingly technology-obsessed society, corporate banks should be keeping up with the times.
However, surprisingly, a lot of banks are not allowing businesses to manage their money as efficiently as you would expect.
There is online and cloud-based payment technology out there, yet still, businesses stick to using the major banks for fear of going against the majority and taking a risk.
It is important for businesses to understand how new technology can allow them to make more strategic and insightful decisions with their money.
So, let’s explore the options for corporate banking in today’s day and age…
Modern business banking solutions…
If you ask an established business owner whether they would ever use digital banking, it is likely that you will be shot down. There is a cloud of scepticism surrounding the corporate banking method, but really, people are just scared.
Despite many still assuming that digital corporate banking is problematic and won’t last, the number of digital banks available is on the increase. One of these is Tide, which receives one in twelve new start-up current accounts in the UK!
New entrepreneurs tend to be more often swayed towards online corporate banking as it allows them to open accounts quickly and get stuck straight in. When attempting to open a business account with one of the big banks on the block, you go through a lengthy assessment process and attend a number of meetings in-person before the account can be created.
AccessPay provide a fast, innovative and secure solution to corporate banking, with their direct debit management software. They aim to provide businesses with a modern and efficient alternative to using the major banks like Santander, HSBC and more – where they may let you down, AccessPay will make up for it! As well as offering a software to manage incoming and outgoing transactions, AccessPay provide a fraud prevention software so you can rest easy knowing your money isn’t going anywhere it shouldn’t be. If you assume that digital corporate banking is only for small businesses, think again. AccessPay have successfully worked with huge organisations, like AA, ITV and StenaLine.
Digital corporate banking and new online banks like AccessPay, Tide and Atom, have had to face up to the heavy criticism and scepticism and prove their worth and abilities.
Some online banks even allow businesses to take out loans speedily and easily. This might seem too good to be true, but it actually isn’t. Although taking out a business loan should never be a rushed decision, it is handy to avoid the weeks worth of paperwork that the major banks would throw at you as part of their process for lending money.
Although many businesses may be sceptic of digital banking, the increasing number of success stories can only mean that they are going to become more and more popular as a corporate banking method.
Why don’t you make the most of what digital banking has to offer instead of listening to insecurities and sticking with an average (or in many cases, below average) business account with one of the major banks?
Just because they’re the more popular choice, doesn’t mean they’re better. Taking risks in business and diving headfirst into trends is a great way to stay relevant and current.