Rising customer expectations, disruptive competitors, new technologies and increased regulation are just a few of the ongoing pressures forcing commercial banks to reimagine and evolve their business and operating models. Those with existing investments in digital and data platforms and the right ambition, tools and partners, are well positioned to be the frontrunners. Aggressive investments to drive efficiency and enhance the client and employee experience will keep them in the lead, with continuous momentum toward a new digital future. We see 2020 as the year commercial banks went from digitization to digital by building on these investments and truly unlocking the power of their data.
We’ve identified six trends we believe will guide commercial banks through the first year of this new decade.