Disruption, distraction, and digital. These three words have defined the COVID world and will continue to dominate commercial banking well into 2021.
Last spring, commercial banks did something rather miraculous—in a matter of weeks, they stood up end-to-end digital loan and grant disbursement programs around the world, positively impacting nearly every SME, commercial and corporate client. In the moment, the industry witnessed first-hand the power of digital when it is unleashed in commercial banking.
Unfortunately, banks have not yet translated this incredible digital effort into their existing technology, capabilities or culture. In 2021, the commercial banks that make the pivot to the future, develop a clear and forceful strategy to deploy digital to their clients, and simultaneously shore up their digital foundation, will be set to own the Roaring Digital ‘20s.
But how, exactly? Following the success of our top trends forecast from last year, we set out to answer this question. After extensive internal deliberation and conversations with our clients and other industry experts, we’re excited to share our thinking. Here is what the global commercial banking team at Accenture forecasts will be the most important trends for the industry in 2021.
Watch the American Banker Top Trends webinar
In this American Banker hosted webinar, Jared Rorrer, Global Commercial Banking Lead, and Chris Scislowicz, North America Credit Practice Lead, discuss these eight key trends for 2021 in detail.
We would love to hear your thoughts on the year ahead for commercial banking. If you would like to talk through any of the above trends, please reach out to your Accenture lead.