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Accelerating Innovation in Corporate and Commercial Banking: Leveraging Technology to Leap Ahead of the Competition

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25 May 2022
Patricia Hines

Last October, the Celent Corporate Banking team published its Technology Trends Previsory, 2022 Edition. In the report, we identified five key technology trends and imperatives for the industry segment, all of which represent both an opportunity and a challenge for bankers.

Five Key Technology Trends

Building on that trends overview, I interviewed bank executives who have undertaken significant innovation and transformation projects about their winning technology strategies and tactics. We focused our discussions on Celent’s five technology trends, asking bankers about the relative importance of each to their organization’s technology strategy. The bankers felt that all five themes are critical to accelerating innovation and transformation in corporate banking — with optimizing customer engagement taking the top spot.

2022 continues to be a year of substantial innovation and transformation in corporate banking. It is clear that winners in corporate and commercial banking are leaping ahead of the competition by leveraging technology to accelerate digital innovation and gain efficiencies, developing a substantial cost advantage. Although it is difficult to achieve the same benefits as new, greenfield entrants to the segment, leading banks are turning to a diverse technology toolkit to transform their product and service platforms digitally.

Check out the full report, Accelerating Innovation in Corporate and Commercial Banking: Tier 1 Banks Share Their Lessons for Success, which includes interviews with executives from CIBC, Citi, HSBC, PNC Bank, and U.S. Bank.