Commercial Banking has been saved
Offering advisory services and end-to-end digital transformation to our Commercial Banking clients
With regulation and new entrants disrupting the Commercial Banking sector, banks must decide what role they want to play. Commercial banks that succeed will put retention of the client interface and delivering increased levels of client value through customised and tailored services at the top of their transformation agenda.
Commercial Banking client’s core financial needs, whether they be SME, mid-market or global corporates, will largely remain the same. However, to retain customer intimacy, the needs that commercial banks will become expected to support will stretch beyond traditional banking products and services into supporting their clients run their business. This could range from helping clients to retain and attract new customers to providing analytics and insight into their business to spot new opportunities and help them prepare for growth; the market and battleground in which commercial banks will be expected to operate will change considerably.
As banks prepare to move into a world of Open Banking with the implementation of regulations such as PSD2, it is important that their approach considers more than just compliance. The threats and opportunities to business-as-usual must be properly assessed, including the acknowledgement of the potential for FinTechs and new market entrants to play a key role.
How Deloitte can help
Our team specialises in end-to-end digital transformation for commercial banks, enabling our clients to optimise their current business, build and launch new propositions and support them with the associated business and technology change.
We have developed an interactive commercial-bank-as-a-platform which demonstrates our view of how banks can leverage innovative technology, new business models and ways of working to combat disruption, exploit opportunities and ultimately better serve their clients.
Through the delivery of client solutions and industry publications, our team has become established as an independent and trusted advisor to our clients.
Our team are at the forefront of leading commercial banks through change and uncertainty to exploit opportunities and deliver value; from regulatory and compliance to digital transformation and proposition development. Considering the broad set of change drivers that currently exist, we believe that now is an important time for commercial banks to determine what role they will play in the future and we have assessed the market to understand the latest trends and develop a selection of strategic choices to help our clients succeed.