Banks’ corporate customers have always sought to grasp greater operational control over their cash, their banking relationships and the banking services that they consume. Virtual Account Management (VAM) has historically been one mechanism that firms have used to do that. While Virtual Accounts were often technologically static and inflexible they have enabled corporates to operate internal and self-managed banking structures, albeit in a limited fashion. Today, Virtual Accounts have been surpassed by a broader, more complete Virtual Bank Technology platform which harness advances in workflow integration, matching, analytics and real-time reporting with functionally rich Virtual Accounts to provide greater flexibility, customer self-service and a suite of integrated cash management applications.
This presentation explores how VAM is defined, evidences and explains the ever-increasing VAM demand and looks at the benefits Virtual Bank Technology can bring to both banks and their corporate customers.
- What is Virtual Account Management (VAM)?
- Why the increased VAM demand?
- What’s in it for banks and their corporate customers?
- What industries have benefited and how?