The Role of Cloud Computing in Revolutionizing Business Banking Services: A Case Study on American Express’s Digital Financial Ecosystem

Abstract

The advent of cloud computing has brought a significant change in traditional business banking services. This essay intends to explore how the cloud revolutionizes banking operations while enriching the customer delight. Smart banks are already lengthening their business service capacity to include the richness of 24/7 online banking services for their commercial account customers. It creates a business service model being steadily spread out towards digital resonance.

Transference and history of business banking services in a different dimension for qualitative inquiry have been revealed to be speeding up by the introduction to an integral part of the cloud computing paradigm. Business clients need business services in such a way as not being easily comparable to individual retail banking customers. Better visibility and control over the cash flow are needed, setting up different authorization tiers based on roles on the business side, expedient payroll capabilities lighting quickly while travelling, place approving, and the like. It was the early 2000s when large money center banks began to gratify these high demand business requirements such as a compressive check manipulation solution. Such an exclusive facility service always required a long chain of face-to-face engagement between the banker and the business client and was accessible exclusively for those business clients domiciled in a location that only a large money center bank might afford. All other business clients, mostly the Small and Medium Businesses were soonly to have been gratifying the way they had been.