Commercial banking leaders find the present an exciting time to be part of this industry. In the last few years, this finance section seemed to lag in customer support, responsiveness and trends.

As Gartner states, “Commercial banks were a critical engine of the recovery in 2020, helping businesses of all types navigate COVID-19 and remain on a firm footing. And across this year the commercial bank has been an equally-critical instrument of the renewal, helping companies accelerate back to life despite a bumpy economic recovery and an unending pandemic.”

Commercial banking is swiftly gaining ground as it meets economic growth needs and satisfies customer requirements. In doing so, commercial bankers are positioning themselves ahead of the current course, and the commercial bank trends shaping the second half 2022.

Five specific movements are having an enormous impact on the industry.

5 Commercial Bank Trends Shaping the Future

Banking leaders have noticed an upswing in commercial banking.

Commercial banks have never been better poised to shape banking for years to come. The trendsetters in the industry are:

  1. Recognizing that any family business is for sale when it is the right price. The current generation, for the most part, has lost interest in the family business, and therefore, business owners are willing to sell for the right price
  2. Attracting fiercely competitive talent in a lightning-quick market; the current trend lies in the creation of supporting roles. The talent filling these positions cater exclusively to client needs, but they set their own schedules and work locations. Fluid relationships established with each client make up the bulk of the work.
  3. Adjusting to the supply chain slowdown. As clients carry more inventory, commercial banks are maintaining an optimistic posture even when clients must rethink their business strategies. The general attitude suggests that the interruptions are temporary.
  4. Bringing data management to the forefront, which enables commercial banks to use data and digital tools more effectively; this digitization makes commercial banking more open to exploring opportunities in fintech.
  5. Adopting a proactive approach to cyber-fraud; ongoing data analysis and monitoring creates a much-needed value-added service in the form of client protection.

SMEs become the hot new talent

As those taking on commercial banking trends shape the future, industry leaders are finding it more necessary to rely on SMEs to satisfy customer needs. Subject matter experts are changing the dynamics of not only the workplace but also the workday.

As a result, they are building resiliency in commercial banking, which has been missing for a long time.

Talent that can build strong client relationships will be the ones most highly prized and sought after by commercial banking leaders and the recruiters who find their talent.