The World Is the Corporate Treasurer's Office

By Marie-Caroline Domingo Head of Client Access, Asia [email protected]

Mobile telephones and tablet devices have the potential to revolutionise the corporate treasurer's role, and the ongoing development of mobile payments solutions is gathering pace.

The world is becoming more mobile. A recent Cisco report predicts there will be 10 billion smartphones and tablets by 2016, which significantly exceeds the United Nation's projected 2016 human population of 7.3 billion*. While the role mobile technology and social media plays in people's personal lives is clear, what is less widely discussed and explored is the potential these tools and devices have to transform the corporate world. This is particularly the case as the traditional "desk job" involves less and less time spent at an actual desk — or indeed even in an office.

Corporate treasurers across the board — from those at multinational corporations (MNCs) to those at small-medium sized enterprises (SMEs) — are increasingly pushed for time, with increased travel commitments or the need to fulfill multiple roles. Given this, the ability to manage company transactions — including payroll, vendor management, and cash management and liquidity positions — from a mobile device is invaluable. As a result, the mobile growth trend continues to make significant inroads into businesses and is an increasingly important (and relatively new) channel in the corporate banking space.

Banks Leading the Way

When assessing their banks' mobile payments solutions, corporates tend to look for two crucial factors: the ability to act on time-critical tasks while on the move, and easy access to real-time information that allows treasurers to accurately track and manage payments and company liquidity. In both respects, Deutsche Bank has paved the way, being one of the first banks to bring such solutions to the market for corporate clients, with the 2008 launch of the db-direct internet mobile authorisation solution. This offering allowed corporates to authorise payments remotely, thus increasing client mobility and making payments more convenient.

Of course, where mobile devices are concerned, it is not difficult to pre-empt what client concerns may be — particularly with respect to security. As such, Deutsche Bank has taken strict precautions. Clients that use the service require not only an existing db-direct internet login, but also a security token on which access to the data in question depends. This means that lost or stolen mobile devices pose no threat to the safety of company information, as access is simply not possible without the security token.

In addition, all data is held securely in the db-direct internet server. Not only does this ramp up the security aspect, but it also means that the information clients can access using their mobile device is as up to date as the information they would receive if they were to log in to db-direct via the Internet.

Clients have convenient and secure access to their transaction information at every stage of the payments process. Our mobile solutions leverage so-called "push" technology in order to provide alerts to clients and their counterparties at critical points in the business work flow. Alerts are provided in SMS format, with 19 languages supported globally.

This emphasis on safety and communication means that this mobile authorisation solution has been well received by the market since its launch in 2008. There has been tremendous traction gained in Asia where the solution was first launched and rollout is well underway in Europe and the US.

Future Developments

Yet our focus is on more than merely increasing the reach of an existing solution. As mobile banking evolves from simple message and/or mobile browser-based applications, the key driver of solutions development will be the increasing need for an enhanced user experience. This in turn is driven by the growing popularity of smartphones and tablet devices, which are able to provide far richer functionality than standard feature phones. In particular, the advent of the tablet computer will be a game changer with respect to how banks provide their services on the mobile channel, with such devices offering a world of opportunity.

Deutsche Bank is committed to providing best-in-class user experience to clients and has embarked on an eCommerce strategy to deliver electronic services via a single distribution channel: the Autobahn App Market.

The Autobahn App Market aims to deliver a range of electronic services via a single distribution channel. The first "app-based" electronic distribution system in the financial industry, the App Market offers clients a central access point to the rich suite of electronic services across our corporate and investment bank (CIB). As a result, CIB's key analytics, execution, trade and transaction banking services can be conveniently located at the touch of a button.

The App Market will be provided via three main access points: the desktop, the web and the mobile device (smartphone or tablet computer). As part of this initiative, a programme has been started to deliver enterprise mobile governance for CIB. This involves identifying mobile application requirements across clients and internal staff with the goal of providing a harmonised and consistent approach to the delivery of client-facing and internal mobile "apps."

A Leading Provider

As a leading global provider of transaction banking solutions and services, and a trusted banking partner to many of the world's corporates, Deutsche Bank is committed to maintaining its position as a principal provider of mobile solutions. Our consultative approach to solutions development means that client feedback shapes every stage of the development and implementation process, and this will remain the case as our market-changing mobile product suite expands.

* source: http://newsroom.cisco.com/press-release-content?type=webcontent&articleId=668380