Corporate banking gets a digital edge

Technological innovation is transforming the business models of commercial banks' corporate clients, thus driving changes in their demand for more flexible supply chain financial services, working capital financing, and consulting services relating to mergers and acquisitions, said The Boston Consulting Group in a latest report.

More than 70 percent of corporate clients identified digital capability as one of the key factors to evaluate the quality of commercial banks' corporate banking services, according to a 2015 survey conducted by BCG, a US-based global business consulting firm.

"As a result, leading institutions in the banking industry are stepping up the efforts to provide corporate financial services online and on mobile devices," said BCG partner and managing director David He.