Banks have focused on what they offer and not what their clients are trying to do. Consequently, clients making a payment are typically presented with esoteric choices – “Do you want to use a wire payment? BACS? CHAPS?” It’s like an airline asking its passengers what fuel they want for their flight.

But what if banks didn’t work like this? What if they took the time to understand their clients’ relationships and intentions and used that information to answer these questions themselves? The relevant invoices, some historical data and an intelligent algorithm would be enough to automate the process. Suddenly, instead of placing barriers between a treasurer and his business, banks are removing them: “Need to make a payment?

Here are your fastest, cheapest and safest options, based on your context.” Now that’s service.

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