This project, structured in two parts, investigates the future road map of digitally enabled banking services in support of Italian companies that are moving into new markets.
Innovative corporate services digitally enabled
About the project
Principal Investigators: Giuliano Noci, Marco Giorgino
Researcher team: Valentina Palummeri, Laura Grassi
Funders: E&Y
Duration: 9 months
Partner: E&Y
KEY RESEARCH QUESTIONS
This project, structured in two parts, investigates the future road map of digitally enabled banking services in support of Italian companies that are moving into new markets.
In the first part, the Research Team describes the best-in-class digital business services offered by the main Italian and European global banking groups. The research focuses on the internationalization process and on the best practices of business products and services offered by the main global marketplace platforms, as leading business and technology innovators.
In the second part, the Research Team defines the needs of Italian companies that undertake internationalization processes, introduces the potential use of digital enablers to innovate the business services portfolio and generate new revenue sources for the banks and, eventually, describes the best practices on the “digitally enabled” processes, products and services for companies.
OUTPUTS & IMPACTS
The main research findings are:
- Informative and evaluative services should be developed at an advanced level, considering the major difficulties faced by companies, such as the lack of an internationalization culture, the difficulty of supporting initial investments and the assessment of the local counterpart’s reliability. Operative services, characterized as high value added, are mainly offered by consultancy firms. The banking system should provide such services, focusing on some of the different steps of the internationalization process such as the internal analysis and the implementation.
- The banking system is supporting those companies that have become international a long time ago in a very basic and traditional way, with very limited recourse to the digital enablers. The majority of the current digital platforms are focused on a limited range of services that do not cover the whole internationalization process. Very few innovative banks have developed services to integrate the bank’s platforms with their client’s ERP systems so as to ease the usability of the services provided, even though they are limited to warehouse and invoice management. This scarce integration among the systems is mainly due to difficulties in IT architectures and in programming languages. Nowadays, there is still no evidence of a complete solution that integrates the demand and the offer and which supports the companies with innovative services at the same time.
