"The next 12 months will be as impactful as we have ever seen in commercial banking."
— JARED RORRER, Managing Director – Global Commercial Banking Lead
Every year our leadership team pulls together key learnings from their work with commercial banks around the world. Our annual Commercial Banking Top Trends report aims to identify the most relevant topics that are emerging or gathering momentum—those that are most likely to transform the industry.
We believe these are the seven critical business trends every commercial banker should consider as they plan for the year ahead.
2022 Commercial Banking Top Trends - American Banker webinar
Jared Rorrer and Chris Scislowicz share a detailed overview of the seven trends for commercial banks in 2022.
This is a critical time for commercial banks. On the one hand, they are starting to see positive returns from their investments in digital technology. This is enabling them to provide enhanced services to customers while simultaneously improving their efficiency. At the same time, however, banks face growing threats as fintechs chip away at their customer base and revenue streams, as banking services are embedded in the offerings of multi-service platforms, and as talent are lured away by companies with more appealing cultures and reputations.
There are too many to list. But, among those powering the trends we have identified are enhancements to RMs’ CRM tools, the use of data, AI and open banking to improve the efficiency of trade finance, the increasing sophistication of customer portals, and the embedding of banking and other financial services on bigtech platforms that aim to meet as wide a spectrum of customer needs as possible.
Commercial banks face a stark choice: ignore fintechs and bigtech platforms, collaborate with them, or take them on at their own game. Each option has its risks and potential benefits, and not all three are feasible for all banks. Nonetheless, 2022 will be the year when most commercial banks will have to place their bets and start to develop deliberate strategies for dealing with this.
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