Corporates are under increasing pressure to be more efficient and their expectations of their banks are changing as a result. Banks need to be innovative to meet client expectations. Virtual accounts can be part of the solution for banks in meeting the needs of their corporate clients, as well as addressing their own internal strategic challenges, such as increasing regulation and the downward pressure on fee revenue.

In this Tieto white paper we present the case for virtual accounts as something that all banks, looking to compete strongly in the areas of payments, cash management and transaction banking, should seriously evaluate.