Corporate Banking

VirtusaPolaris comes with very strong corporate banking experience with over 20 years of experience across corporate banking domain and successfully developed the largest corporate banking portal and largest trade finance portal in the world.

Corporate Banking is the major revenue spinner for any bank or financial institutions but it was always the last to adopt technological innovations. Corporate banking has been under pressure in the recent years due to stringent regulations and compliance and heavy penalties associated with it. Typical challenges of banks are difficulty in data monitoring due to its size, challenges in on-boarding a new customer due to huge paper work and disparate systems & embracing digital in the corporate world. Welcome change is that banks today constantly endeavor to bring in new technologies and innovations to provide superior customer experience, informed analytics, straight through processing and robotics in the areas of trade finance, cash & liquidity management, commercial lending and corporate payments.

VirtusaPolaris’s seasoned domain experts & consultants combined with long standing engagements with leading banks across geographies brings the right mix of technology and domain expertise to help banks achieve desired results.

Our area of expertise includes:

  • Trade Finance
  • Cash Management
  • Liquidity Management
  • Commercial Lending

Our Point Solutions:

  • Next Generation Corporate Banking Portal
  • Next Generation Trade Finance Platform
  • Corporate customer on-boarding

Commercial Lending

Corporate & commercial lending has always been traditional in terms of technology adoption due to its nature of business. The emergence of alternative lending (P2P lending) and technological innovation by Fintech companies are pushing banks to rethink their business and IT strategies towards lending. There are three key areas where banks are looking to invest to stay ahead of their competition

  1. Smoother onboarding of customers
  2. Robust underwriting
  3. Faster credit review and credit decisions

At VirtusaPolaris, we help banks by providing various solution frameworks that would help banks not only solve their business problem but also stay ahead in terms of innovation and technology. Some of the key solution frameworks that we offer are:

  1. Customer onboarding – Automated onboarding process with built in compliance checks and credit review.
  2. Credit decision on mobile/Tab – Aid faster credit decision by enabling credit decision on mobile/Tab through apps.

In addition to our solution frameworks, we bring strong lending domain knowledge with 120+ lending domain specialists in corporate banking with strong experience in loan origination, servicing, risk management and collections. We have over 10+ years of experience in the corporate lending domain. We have partnered with multiple banks across the globe and have strong experience in product implementation, application development & maintenance and consulting. Implemented loan origination system for one of the top 5 banks in Canada and maintains Loan management system for a top bank in US.

Trade Finance

Trade Finance is the core activity in Corporate Banking for Banks and it plays the pivotal role in global economy. The trade finance marketplace is ever changing, increasingly global and increasingly competitive. The global banking and financial services industries (BFS) has witnessed significant disruptions, prompting players to use technology and technology enabled platforms as pillars of their strategies.
Corporate banking is not known for speedy technological innovations, but new emerging trends like RPA and other disruptions from Fintech companies are pushing banks on the defensive mode and forcing them to rethink traditional processes, and implement technology-driven innovative solutions. New technological innovations are going to play an important role in enabling Trade Finance institutions to offer low cost, customized, value added solutions to meet the requirements of diversified customer segments. Trade Finance has a critical role in accelerating economic recovery, and to help developing countries fulfill their aspirations.
There are several emerging trends in Trade Finance market place,

  1. Robotic Process Automation driven operation efficiency
  2. Use of Blockchain technology
  3. Embracing Digital in Trade Finance operations
  4. eDocumentation
  5. Automated Compliance Screening, etc

At VirtusaPolaris, we help banks by providing various solution frameworks that would help banks not only solve their business problems but also to stay ahead in terms of innovation and technology. Some of the key solution frameworks that we offer are,

  1. Reusable components and market driven solution accelerators
  2. Prototype of Next Generation Trade Finance Platform – with the state of the art innovative design thinking.
  3. Trade Finance Reference Architecture L0/L1 and Business Use case repositories
  4. Test Case Repositories for Trade Finance Products and bespoke applications

In addition to our solution frameworks, we bring strong Trade Finance domain expertise around 200+ specialists with collective experience of around 5000+ person years. We have partnered with multiple banks across the globe and have strong experience in end to end Trade Finance domain, consulting, application development, maintenance and testing.

  1. Well experienced Trade Finance Subject matter expertise for innovative business solutions, analysis and business requirement documentations.
  2. Business consulting expertise with advisory services for process simplification, digital embracing and process automation.
  3. Very rich domain and technical expertise with end to end Trade Finance domain, front office, middle office and back office operations.

Point Solution - Corporate customer on-boarding

Corporate customer on-boarding is a complex and cumbersome process for most of the banks as it involves huge paper work and re-keying of customer information in multiple systems. Banks have always seen this as a major challenge as it is the first experience for any customer with the bank. Analyst reports indicates that 98 percent of banks believe they’ve lost deals and revenue from poor customer service during client onboarding puts a strong case for a robust customer onboarding solution.
With strong domain expertise and proven onboarding framework, VirtusaPolaris can help banks to onboard various types for corporate customers such as Institutional clients, large corporates, small businesses such as limited partnerships and private limited companies.