Barclays have today announced the launch of iPortal, an online banking hub which helps customers of corporate organisations to have direct access to the entire range of services that the bank offers, using the Barclays Biometric Reader.
Many have described the iPortal as an online gateway that will help companies have a clear view of their corporate banking structure as much as been done in the past to improve consumer banking and the corporate banking industry needs to be transformed also. Security has also been considered by Barclays due to the streamlined login process offered by the Barclays Biometric Reader.
The iPortal will provide an immediate picture of accounts and products in a customisable function. Head of cash management at the bank, Michael Mueller, highlighted that it is time for change and moving in the right direction means getting rid of old technology.
“Traditionally online banking systems have not always made life easy for businesses. Corporate banking solutions that bridge existing products produce disparate, complex and outdated systems that require multiple logins on a variety of platforms, making banking a time-consuming and disjointed process. With iPortal, we are changing that,” Mueller said.
As a provider of real time alerts and notifications, the iPortal is set to revolutionise the economy worldwide because the system has the capability to present an overview of group balances across different business divisions in multiple countries. Alongside this, the system will use Hitachi’s Finger Vein Authentication Technology (VeinID) which scans the user’s finger blood flow to make payments and confirm transactions.
Mueller comments upon the importance of customisation. “In recent years, banks have rolled out ever more personalised services, to meet consumer demands for ways of banking that fit around their lifestyle. But what’s to say the same idea can’t apply to business users? The development of iPortal is another major step towards our vision of the future of corporate banking; simplifying and personalising the experience to enable decision makers to spend more time focusing on the business of doing business.”
In addition to increased security, this service will also help save financial professionals time as users are able to send messages to support and relationship teams within the bank and it will act as a market intelligence tool.
Financial controllers and company executives will have access to the iPortal application and will be available to corporate customers immediately.