A client-centric mindset is critical to navigating the complexities of cross-border transactions, especially as businesses today move towards digital solutions. The right approach to client servicing can transform challenges into opportunities.
Understanding Client Needs in Cross-border Transactions
One of the biggest lessons I learned over the years is that clients may seem similar on the surface, but each requires a unique approach. Every market has its nuances. Respecting the cultural differences of each helps build stronger, more trusting relationships with them. Whether it’s the formalities in Japan or the directness in certain European markets, adapting to each client’s style enhances collaboration and drives better outcomes.
The Role of Technology in Risk Mitigation
Risk management is integral to cross-border transactions, and technology plays a pivotal role in mitigating these risks. Manual processes are prone to human error, whereas digital systems offer verified data and process automation, streamlining operations. Embracing digital transformation is crucial, yet it is important to note that approximately 70% of such initiatives fail to meet their objectives, often due to a lack of clear strategy, resistance to change, implementation challenges, budget overruns, and poor communication between teams.
Collaboration Over Transaction
Viewing clients as partners rather than mere customers fosters stronger collaboration. Ensuring mutual financial incentives is key to sustaining these partnerships. I feel this collaborative approach fuels innovation to create business value especially when dealing with large projects that involve more than around three to five teams within a client organisation.
The Need for Scalability in Solutions
In an ideal world, a solution that works for one client should be easily replicated across others. However, real-world scenarios are rarely that simple. I see that our challenge lies in designing solutions that can be both customisable and scalable with minimal impact to the source code. As businesses grow, they need solutions that can evolve without becoming too complicated or bespoke.
Measuring Success in Client Servicing
I would think that with average utilisation rates ranging from say 30%-40% based on the traditional operating model, the future of cross-border trade and supply chain finance lies in a client-centric approach that blends technology, cultural understanding, and scalability to drive it higher. Regulatory changes, digital innovation, and market dynamics demand proactive thinking. If we delay our strategies, we risk falling behind. We need to focus on defining a clear framework, one that identifies pain points, assesses potential partners, and lays the groundwork for greater efficiency.
Ultimately, the measure of success in any client servicing approach comes down to adoption. The journey starts with a minimum viable product (MVP), which helps validate the concept. From there, we focus on scaling adoption, making improvements, and driving higher engagement over time. The objective is to not only to get clients to see the benefits of our product but also induce a sense of urgency when it comes to making an informed decision of adopting and achieving sustained growth.
In today’s fast-evolving digital economy, the real risk isn’t just inefficiency—it’s irrelevance. A sustainable platform solution isn’t a luxury; it’s the backbone of future-ready business operations. But here’s the stark reality: every day spent clinging to fragmented, outdated systems is a day of lost revenue, missed opportunities, and mounting competitive disadvantage. The market isn’t waiting, and neither should we. The question isn’t whether to adopt a scalable, future-proof solution—it is whether we can afford not to.
Julian See brings deep expertise in transaction banking and financial technology to his role as Head of Client Solutions at TASConnect. He specialises in developing scalable platform solutions for corporate and financial institutions, while driving innovation and exceptional client outcomes.
