THOUGHTS

Trend Watch: Top Commercial Banking Trends 2019

Aug 2, 2019

Currently, there is intense competition for wallet share in the commercial banking sector. This is primarily because unlike retail banks that rely on a single firm to handle financial needs, corporate clients often maintain relationships with several banks. Moreover, the evolution of commercial banking trends are unprecedently high due to which innovators such as fintech are threatening to grab the most profitable commercial banking segments.

This makes it imperative for players in this sector to be on par with all the latest commercial banking trends and enhance the way they serve clients. Several forward-thinking players in the commercial banking space have already begun adopt key commercial banking trends and integrate their systems with that of their clients in order to extract deep customer insights. The key to remaining competitive for commercial banking companies is to be cognizant of developments internally and externally.

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Commercial banking trends 2019

Bolstering customer experience with digital transformation

Banks make more profits from corporate customers when compared to retail customers. However, many commercial banks have failed to upgrade their archaic legacy systems and manually-intensive processes. Digital disruptions are slowly making their way into the commercial banking sector. Taking a cue from the retail sectors, top companies in the commercial banking industry are investing in digital transformations to facilitate exceptional customer experiences. This is one of the biggest commercial banking trends right now that would propagate better customer experiences for commercial banking companies.

Collaborations to interlink value chains

When compared to retail banking, the commercial banking sector is relatively behind in terms of the digital revolution. Corporate customers expect their banks to provide facilities such as real-time access to banking services. To make this a reality, commercial banking companies are looking at options to collaborate with these corporations and interlink their value chains. Such commercial banking trends will see rapid growth this year with several players already starting to develop customized solutions that can connect directly to consumers.

Innovation and disruption will not only transform how established commercial banks need to service their clients, but it will also evolve what clients come to expect. Get in touch with our experts to know how Infiniti helps banking sector clients stay updated on the latest commercial banking trends.

The rise in the use of AI

There has been a considerable rise in the amount of structured data collected by banks over the last few years. The use of both structured and unstructured data has been driving strategic and operational business decisions. As a result, the use of machine learning and artificial intelligence capabilities are becoming the most sought-after banking trends. These capabilities would help commercial banking companies to provide a superior customer experience and minimize pain points for corporate clients.

Gain more insights on commercial banking trends and learn more about Infiniti’s solutions for the commercial banking sector.

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