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THE STARFISH DIGITAL CORPORATE BANKING EXPERIENCE

Experience

Key Challenges

  • Chief Financial Officers demand better reporting tools – Data is the lifeblood of predictive liquidity forecasting and risk-adjusted scenario modelling. Banks need to invest in better API capabilities and/or upgrade to next-generation, host-to-host solutions to improve complexity, performance, and cost.
     

  • Need to focus on liquidity – The COVID-19 pandemic has accelerated the digitisation of heritage systems and manual processes.
     

  • Corporate demands for automated originating and negotiation of the lending process – Banks have to demonstrate competitive agility in corporate lending.
     

  • Competition from Fintechs and Digital Banks – With transactional revenues under pressure, banks need to explore new revenue models that focus on analytics and insights such as advisory, value-added services, and platform capabilities.
     

  • Corporate banking onboarding – Corporate Banks need to digitalise the customer onboarding for fast adopting of new products and services.
     

  • Corporate treasurers – Standalone, legacy technology systems are burden on a company’s financial health of the company. Moreover, bespoke solutions (each with their own user interfaces) can create maintenance and upgrading challenges as well as manual processes.
     

  • Automation of support needs – CIOs regularly review how to optimise their support models and minimise costs. With complexity growing, CIOs look to automate support and leverage a global workforce.

Starfish Digital 
Solution Overview

 Starfish Digital is a financial connectivity platform.  We digitise and deliver financial data between banks and companies. 

  • Starfish Connect – Provides an end-to-end managed service with the security and reliability demanded of critical B2B financial infrastructure. Our SaaS (software as a service) platform supports real-time connectivity between the corporate and the bank’s API Banking services.

  • Starfish Universal Adaptor –  Intelligently unlocks and integrates financial data from any source to any target.  
     

  • Starfish Open Banking APIs – Your digital banking relationship. This defines, by bank, the suite of digital services we deliver. We collaborate with the bank of your choice to curate by asset class the right customer experience for you, their client. For large companies, there are often multiple banking relationships to manage. We facilitate each banking relationship of your choice and integrate them with your finance systems through the Starfish Universal Adaptor.

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Key Benefits

  • Cloud based models – The entire financial services industry is moving to the cloud, be it a cloud infrastructure or cloud as a deployment model. The COVID-19 pandemic further reinforces the need for resiliency and scalability, and very few workloads will not be considered for moving onto a public cloud platform in the coming years.
     

  • More tools from banks and faster onboarding – Corporate clients will begin to expect more from tools provided by financial institutions (FIs) and banks have responded by modernising their trade and treasury functions. Corporates will also demand faster onboarding times to receive banks products and services, which means faster time-to-revenue for financial institutions.

  • CFO, a single view of finance – The intent is to enter all financial data into the Finance system seamlessly. Therefore, a single consistent UX is required, provided by the Finance system and its visualisation layer.
     

  • CIO, support compatibility – Partner solutions must be designed to integrate with key software and overall support models. This minimises support overhead and simplifies complexity management.

Key Features

  • CFO, Supporting Digital Finance – API Banking directly connects systems without the need to extract and manipulate data. Starfish Digital's products support using the finance system as the primary user experience layer. Our services integrate directly with finance systems to initiate instructions and upload data, system to system, resulting in near-real time transparency of information, reduction in human error and timely decision-making, which is essential to financial health.

  • CIO, Cognitive AI User Experience – We recognise in an evolving world that user experience is personal. Our customers want to engage through a variety of channels and languages. For these reasons, Starfish Digital has embedded cognitive AI technology into its user experience. This provides an intelligent digital persona using natural language to deliver your needs. We support a multitude of e-channel and languages options.
     

Starfish Digital provides API onboarding in a matter of weeks with our proprietary technology. So, you can address today’s challenges and take smart leaps ahead.