Commercial Banking

Top Trends in 2023

Prepare and reset for your next move
Foreword
A new imperative for commercial banks
The unprecedented challenges of the past three years have tested CEOs and their
leadership teams. In the wake of the pandemic most large companies have risen
to the occasion, transforming more comprehensively and rapidly than ever before
—which we call ‘compressed transformation’—and accepting that all strategies lead
to a greater reliance on new technology.
While these are the ‘Transformers’, a handful of even more intrepid companies are quietly
and systematically changing their industries and driving a new imperative. These are the
‘Reinventors’, and they are building on their experience as Transformers to embrace what
we call ‘Total Enterprise Reinvention’.
Their goal? To reinvent, over time, every part of their organization. Their efforts are centered
on a digital core, and on new ways of working that establish a culture and capability for
continuous reinvention. This strategy, which deliberately aims to set a new performance
frontier, will have a profound influence on commercial banking in 2023 and beyond.

Commercial Banking Top Trends in 2023 2

Introduction to Commercial Banking Top Trends in 2023
Seizing opportunity within a fluid landscape
During 2022, inflation roared back and proved to be Since the onset of the pandemic, commercial banks Those with strong balance sheets and a willingness
far from transitory, prompting central banks around have consistently proved they have what it takes to to take calculated risks are likely to emerge from this
the world to ratchet interest rates up to their highest navigate uncertain waters—and help their customers period even stronger than they were going into it,
levels in more than a decade. Amid a global cost- steer safely through the hazards. Unlike in the 2008 equipped with broader, bolder capabilities to
of-living crisis, an energy crunch, continued supply financial crisis, banks today are well-capitalized compete in the digital age.
chain disruptions, and war in Ukraine, the world of and better prepared to withstand economic shocks.
They have also shown strength and resilience in fending But getting there isn’t as simple as bolting on new
commercial banking faces great uncertainty.
off new rivals such as fintechs. Now, we believe, the capabilities such as data, insights and a digital front-end.
In this volatile environment, it is difficult to make economic climate will favor cash-flush commercial Commercial banks are realizing they must complete the
confident decisions about the medium-to-long banks with strong deposit bases as fintechs scramble hard work of tech modernization as well as process and
term. However, Accenture believes entire industries, for funding and hunker down in the near-term. data simplification, all while maintaining a robust controls
including banking, have an opportunity to reinvent environment. Beyond that, they will need to review every
themselves and reposition for the future. This The middle of 2023 may see the acceleration aspect of their operations and offerings, looking not
opportunity is underpinned by what we call the five key of the investment cycle which banks have been merely to optimize but to reinvent; not to focus internally
forces of change: total enterprise reinvention, talent, seeking for the better part of a decade—assuming on what could be improved but externally on what is
sustainability, the metaverse continuum and the ongoing banks capitalize on the interest rate environment happening in the world; not to run change programs
technology revolution. These are reshaping industries, and believe the dip in the market will be shallow sporadically but to transform perpetually.
breaking down barriers to entry, and blurring industry and short-lived. While many enterprises reduce
lines. They also provide much of the energy behind the spending in a market slump, aggressive and forward-
trends that are affecting commercial banking in 2023. thinking banks will expand on the investments
they made in digitization during the pandemic.

Commercial Banking Top Trends in 2023 3

 Many banks will be cautious about investing before
the macro-economic trajectory becomes clearer. As
commercial banks are unlikely to profit as much as retail
banks from higher interest rates, they will have to fight
harder than them—and harder than in previous years—for
the funds to finance their ongoing improvements. There is
a strong case to spend the first half of 2023
on stabilization and controls while waiting for investment
to return later in the year. In short, commercial banks must
seize on the short-term opportunity to stabilize, regroup,
reprioritize and be ready to rapidly pivot back to full-on
transformation mode by midyear.

The imperative for action will remain strong as leaders

realize a lack of progress on digital transformation risks
weakening their competitive advantage, slowing their
digital transformation and failing to keep pace with
the expectations of their customers. These leaders—
we call them Reinventors—are focusing on their entire
organization rather than on parts of it, and in the process
of transforming themselves are quietly and systematically
changing the game.

“ Most leading commercial banks are repositioning

for a renewed wave of investment on the other side
of what may be a short economic cycle.”

Jared Rorrer
Managing Director
Global Commercial Banking Lead

Commercial Banking Top Trends in 2023 4

Here are six critical business trends for commercial bankers
to consider as they plan for the year ahead.

Commercial Banking Top Trends in 2023 5

#1
The economy

The macro-economy is the most front and center it has been in more than a
decade. With central banks worldwide hiking interest rates throughout 2022,
the borrowers’ market created by excess liquidity and low interest rates is over.
This change in the global economic climate is the macro-trend that sets the
scene for the other commercial banking trends we expect to emerge in 2023.

“It’s the economy, stupid.”

James Carville, Strategist to US President Bill Clinton, 1992.

Commercial Banking Top Trends in 2023 6

In the US, deposit levels fell by $370 billion in the environment. Those with major deposits on their Many banks have in recent years understaffed or
second quarter of 2022,1 although they remain above balance sheets will be well positioned as the neglected their portfolio management activities
historical norms. Meanwhile, commercial real estate balance of power in the credit market swings such as covenant monitoring, collateral valuation,
will have to be re-priced to reflect rising cap rates, back to the lender—the risks they face due to collections special assets and others that broadly
higher vacancy rates and increased tenant cash flow credit deterioration and serviceability challenges span the back and middle offices. Leading banks
risk. In Europe, many businesses that have never are manageable, and the windfall from rising will prepare themselves for a change in the economic
faced high interest rates before are confronted by interest rates will serve as a war chest to finance climate by ensuring that these activities are
the challenge of servicing their variable-rate loans. modernization if not total enterprise reinvention. appropriately staffed. The availability of real market
All over the world, commercial bank customers are data to accelerate the advancement of credit models
watching closely to see whether energy prices will By mid-year, market leaders will be considering how and the improvement of data-led offerings for banking
continue to decrease and higher interest rates will to invest their net-interest-margin windfall in an customers will be a small bonus. Advancements
quench inflation—both of which will be influenced, environment where M&A and capital markets activity in automation, meanwhile, will allow for increased
at least in part, by the course of the war in Ukraine. will have slowed. Forward-thinking institutions will portfolio monitoring without higher headcount.
invest in enhanced capabilities that build competitive
It is of course too early to tell how this will all net differentiation and address long-term strategic Some banks are investing in sales enablement,
out. Banks may face a wave of delinquencies, imperatives such as core modernization. Also, pricing optimization and credit analytics tools as
bankruptcies and requests for credit accommodation some commercial banks without a strong deposit they streamline loan originations and enhance their
after years of pristine credit performance. This does base will be reassessing how to fund their loan early warning capability in portfolio management.
not necessarily foreshadow a deep slump, but rather book coming out of this rising rate environment. For those that have not yet moved from platform-led
the normalization of credit performance and credit to data-led experiences, this is the logical next step.
management processes to historical averages, which The investments commercial banks have made in
have been suppressed over several years. Look out for solutions such as customer relationship management With market uncertainty dominating 2023,
the return of covenants, falling loan-to-value targets, and loan origination systems are a solid foundation leading commercial banks that commit to the
and a tightening of debt service calculations—a survey upon which they can layer next-generation digital tools. reinvention of their organization will make
of loan officers in the US found that banks are already Commercial banking tools have matured substantially meaningful strides toward outperforming their
tightening their standards for commercial loans.2 and there are add-on capabilities that offer lower peers across the financial, technology and other
costs and higher returns on investment relative to critical dimensions. They understand that delaying
What we do expect to see in 2023 is commercial banks recent investments in foundational digital platforms. investment might not be an option, as growth
planning for the worst—but also preparing to pivot in margins and revenues may depend on it.
rapidly toward investment and the pursuit of growth
should the market indicators point to a more conducive

Commercial Banking Top Trends in 2023 7

 According to Gartner®, 70-80%
of commercial banks say they
expect spending to increase
by up to 7% regardless of
technology. 3

Core banking and commercial

loan origination are the
technologies on which, these
banks most frequently say, they
will increase spending by 7% or
more.4

Celent research shows

corporate banks are prioritizing
investments in corporate digital
banking platforms and corporate
digital channels.5

Commercial Banking Top Trends in 2023 8

#2
Did someone say
back office?

Leading banks are finding their competitive edge by reimagining their

talent pool and creating meaningful career paths on the back of modern IT.
Even before the Great Resignation, commercial banks were facing a shortage
of the skills they needed to fill key operational roles. Following the pandemic,
a wave of early retirement combined with an ongoing struggle to attract
young talent to banking and a historically low unemployment rate threaten
to turn the talent gap into a crisis.

“Banks that elect to keep back-office operations in-house need to enhance

their employee experience and value propositions to attract fresh faces
with strong digital competencies.”

Commercial Banking Top Trends in 2023 9

Labor shortages and the loss of institutional There are no quick fixes. Leading banks are responding Talent is likely to be one of the biggest challenges facing
knowledge are starting to affect the customer by modernizing their core platforms and simplifying banks in 2023 and beyond. It is one of the five key forces
experience provided by commercial banks’ and streamlining their processes, both of which help for change and cannot be tackled as an afterthought
front offices and weigh on their bottom line. to reduce costs and improve the control environment. or adjunct to some other transformation program.
Volatile transaction volumes, along with a Yet in most cases, the adoption of new technologies Those that develop a deliberate, comprehensive
lack of investment in career path planning, is outpacing the development of the skills needed to talent strategy will be well placed to capitalize on
training, and technology tools, mean that many make the most of these advances. For many of them, emerging technology as well as all the other business
operations teams are in perpetual firefighting flexible managed services partnerships are a compelling opportunities arising in a volatile marketplace.
mode. As a result, operational risk is rising option, as they allow banks to reinvent parts of their
throughout the commercial banking lifecycle. back-office operations while accessing specialized,
expert talent and creating new ways of working.
Transactional errors and incorrect past-due
This is unlikely to be their only option. Most leading
reporting mean that banks need to carry excessive
commercial banks will use a three-pronged strategy Before the pandemic, 67% of
bad debt reserves. In some cases, regulators have
to transform their skills base and hone their competitive
intervened because they have lost faith in banks’ the banking workforce strongly
edge: access talent both inside and outside their
ability to manage their operational activities. A
organization; use technology and training to unlock
believed that their employer
consequence of all this is that many banks are should help them meet all of
the full potential of their existing talent; and create
spending excessive time and energy producing their fundamental needs instead
new talent by exploring people’s potential beyond
reports and managing regulators; resources that their current skills. They will also tailor meaningful of simply offering a paycheck.
could be directed toward growing their business. career paths for operations employees on the back But only 30% of C-suite leaders
of modern technology. Commercial banks that elect to felt the same way. During the
Talent difficulties continue to mount keep back-office operations in-house need to enhance crisis, these figures changed to
their employee experience and value propositions to
These talent challenges are compounding at a faster 78% and 50%, respectively.6
attract fresh faces with strong digital competencies.
pace than banks’ ability to resolve them with training
and recruitment. Indeed, many commercial banks Investments in new technology will boost morale Some commercial banks’
face a revolving door of recruitment and attrition as and support back-office automation. Banks that operational teams have
new employees move into operational positions with have already invested in back-office tech in areas experienced attrition levels of
limited support and leave soon after due to burn- such as credit origination and servicing will have an
50%+ in the past two years.7
out, frustration and a lack of career progression. advantage. They are leveraging capabilities such as
AI, robotic process automation, workflow tools and
analytics to drive efficiencies and make the back office
a more compelling place to work and build a career.

Commercial Banking Top Trends in 2023 10

#3
Financed emissions:
Get real and take action

Consumers, governments and their regulators, institutional investors and other

parties are getting serious about holding companies accountable for carbon
emissions. In this environment, banks without effective strategies for curbing
financed emissions face a higher risk of enforcement action for breaching
carbon disclosure regulations. However, almost six out of 10 of the world’s
leading banks8 have made public pledges to reach net zero carbon emissions.
This, and the fact that Accenture has identified sustainability as one of the five
key forces for change, are compelling reasons to believe the industry will start
to achieve traction in 2023.

“Cloud can help banks devise, originate and iterate on sustainability-linked

products, and incorporate carbon metrics directly in credit decisions.”

Commercial Banking Top Trends in 2023 11

Commercial banks have an outsized responsibility Glasgow Financial Alliance for Net Zero also face new Modern, cloud-based origination systems and tools can
to help address climate change because of the role reporting requirements. Taken together, these new empower relationship managers with insights related
they play in financing emissions in other industries. standards could well have a similar impact globally as to environmental, social and governance (ESG) priorities.
Their capital resources and corporate relationships did the introduction of GAAP in the US in the 1930s. To do this they should automate the collection and surfacing
position them perfectly to work with customers of carbon metrics. Banks can leverage the flexibility of these
to reduce greenhouse gas emissions and mitigate Bridging the intention gap between systems to devise, originate and iterate on sustainability-
linked products, and incorporate carbon metrics directly
climate-related risks. front office and the C-suite
in credit decisions.
Banks have committed to spending $130 trillion on Perhaps even more concerning is the disconnect
between the banking C-suite and front-office Time is running out for banks to follow through on their
climate change and sustainable development9, yet even
employees in terms of the bank’s stewardship role. climate financing promises if they are to reduce the
those with ambitious programs and strong leadership
Senior executives are motivated to push ambitious regulatory and reputational risks of missing their ESG targets
from the top struggle to execute their strategies.
sustainability programs because of their exposure to the or overstating their achievements. Significant investment will
regulatory and strategic drivers. However, our research be required across the banking industry to reach net zero
A major part of the problem is the lack of mature,
shows that in many banks this has not cascaded down targets, which are high on every bank’s agenda for the year.
standardized tools for tracking and reporting on
emissions. Most banks experience significant to the front-office teams who serve customers and are
difficulty in gathering accurate, auditable data responsible for executing much of the change.11
on carbon and its material impacts. Only 26% of Global financial institutions’ financed
Leading banks will tackle these challenges head-on
the finance leaders who participated in our 2022 this year, starting with a review of their lending strategies emissions are, on average, over
ESG Measurement Study agreed they had clear, to identify climate risk exposures—which include the 700 times greater than their direct
reliable data to underpin their net zero KPIs.10 emissions within their customer portfolios. They will emissions.12
also implement solutions that allow them to automate
Commercial banks that cannot measure their climate the gathering of data based on the reporting standards
risk exposure across their portfolio will struggle to mandated in their country. 66% of banking executives agree
meet the International Financial Reporting Standards there is a disconnect between C-suite
which the International Sustainability Standards Board Furthermore, leading banks will invest in upskilling ambition and front-office execution of
is in the process of finalizing. The number and the staff to give climate-informed financial advice to their bank’s sustainability stewardship
complexity of regulations have grown, with the latest customers in carbon-intensive and climate-vulnerable role.13
US Securities and Exchange Commission and Canadian sectors. They will also look to leverage carbon-intelligent
Office of the Superintendent of Financial Institutions information systems in making lending decisions.
Since the adoption of the Paris Agreement
regulations requiring disclosures on banks’ own
At the same time they should ensure that front-office in 2016, the world’s largest banks financed
carbon emissions (scopes 1 and 2) as well as those of
employees’ incentives are aligned to sustainability KPIs. fossil fuels with up to $4.6 trillion.14
their customers (scope 3). Banks that are part of the

Commercial Banking Top Trends in 2023 12

#4
A fresh look at the
SME experience

It’s no secret that small and medium-sized enterprises (SMEs) have

a relatively disengaged relationship with their bank. According to
Accenture Research’s analysis, 47% of SMEs believe that banks don’t
try to understand their challenges and only 9% are comfortable that
their current bank meets all their needs.

“A surge in new business registrations and SMEs’ heightened use of

digital platforms are creating new possibilities and markets for banks.”

Commercial Banking Top Trends in 2023 13

Most smaller businesses regard business banking A recent global survey by Accenture found that In addition to scaling commodity services through
as a commodity; in fact, few give much thought to $32 billion of SME banking revenue could shift from embedded finance, leading banks are strengthening
transactional banking at all. When asked about their traditional banking offerings to embedded finance their SME business offering by incorporating value-
most significant pain points, SME bank customers experiences by 2025.16 Banks could participate in this added services. They are drawing on their internal
name growing their business, talent acquisition and emerging sector by partnering with digital platforms capabilities, in areas like legal and regulatory
retention, supply chain management, managing their to leverage their user bases. However, banks will need compliance, to help small businesses manage familiar
cash flow and taking care of administrative tasks.15 to move fast to secure partnerships with the most pain points. Some are augmenting this offering by
Banking doesn’t appear anywhere near the top five. desirable players in a winner-takes-all market. partnering with non-financial firms whose services
have value for SMEs—examples include talent
Herein lies the opportunity for banks to look beyond Scaling to reach large pools of customers acquisition and supply chain management. These
their current SME banking approach and become valued types of innovations are helping these banks move
business partners to their smaller customers. A surge We’re already seeing some leaders make big bets on
from competing on price to competing on value.
in new business registrations, partly because of the embedded finance. Live Oak Bank is one example:
Great Resignation, and SMEs’ heightened use of digital it is integrating banking services into specialist
platforms in the wake of the pandemic, are creating new software such as veterinarians’ practice management
possibilities and markets for banks. platforms. The niche bank—which describes itself 69% of small businesses view
as ‘the Stripe of the non-interest-bearing deposit robust digital capabilities as a
A compelling option to change the SME interaction business’—sees embedded finance as a means to
key consideration in choosing
model lies in embedded finance, a trend that integrates attract low-cost deposits without a branch network
a financial services provider.18
banking services into the digital platforms and apps as well as to increase customer stickiness.17
which SMEs use in their daily workflow. These range
from e-commerce, gig economy, marketplace, payment As examples like Live Oak Bank illustrate, embedded 4 in 10 SMEs would be
and social media platforms through to cloud-based finance offers banks the opportunity to reach large interested in using banking
accounting, financial management, productivity, and pools of SME customers, creating significant revenue services from one of their
collaboration solutions. streams without incurring the costs of end-to-end digital service providers.19
distribution and customer acquisition. They will also
benefit from higher data volumes and richer insight
into their SME customers—which should shave
costs and improve profitability in years to come.

Commercial Banking Top Trends in 2023 14

#5
Innovation soars
in trade finance 

As we noted in our commercial banking predictions for 2022, trade finance

hasn’t traditionally been a hotbed of financial services investment and
innovation. But with new customer expectations and the rise of non-
traditional competitors, banks are under pressure to address the digital
gap in trade finance. As they face competition from new market entrants,
leading trade finance firms are stepping up their investments in technology
as well as strengthening their product offerings.

“Given the complexity of trade finance and the burden of the resulting manual
work, end-to-end digitization of the supply chain is a game-changing
opportunity for banks.”

Commercial Banking Top Trends in 2023 15

Forward-thinking banks are taking advantage of Fintechs and other competitors Trade and supply chain finance is on the brink of a new
rising interest rates and geopolitical uncertainty are looming era. Leading banks are sharpening their digital edge
to capitalize on the manifold opportunities to grow to compete. They are choosing the tech and fintech
market share. This brings the risk of customer Although their strong customer relationships and partners they need to build the modern, interconnected
attrition for those that aren’t agile enough to balance sheets are an advantage, incumbents cannot solutions today’s customers demand. Not only are they
meet emerging customer needs. Accenture be complacent in the face of new competitors. Many modernizing; they are also persuading their division
research shows that two-thirds of trade finance customers are already working with fintechs to reduce executives that investing here is a no-brainer. Those
customers are looking to change their roster of their credit risk, forecast cash flow, allocate working that are doing this well are transforming the last analog
financing providers in the next 12 months.20 capital and explore a broader customer and supply base. frontier of commercial banking and, in the process,
consolidating their long-standing relationships with
Market leaders are positioning themselves as true In 2015, the market share for trade finance fintechs was
existing customers and growing their market share.
finance partners that can help companies across under 5%; today it is more than 20%.21 Even if there is
their entire supply-demand value chain by bringing a global economic downturn in 2023, we anticipate
a strong combination of tech-led products and that fintechs in this segment will be resilient due to
services as well as value-added and advisory services. the momentum they have built. There is also growing
They are responding to the customer demand for competition from other non-traditional players like 67% of companies globally are
solutions that help businesses optimize working capital enterprise software companies. expecting both supply chain
and enhance cash conversion. For banks, this means financing needs and business
finally making a meaningful investment in digitization. With trade finance customers in our research naming
trade flows to increase in the
There is unprecedented down-market demand for trade the complexity of trade finance and the resulting
next 12 months.23
and supply chain finance products, but without digital manual work as their greatest pain point, end-to-end
capabilities, banks cannot efficiently scale to manage the digitization of the supply chain is a game-changing
volume nor effectively underwrite the credit exposures. opportunity. Some 70% of large corporate customers 91% of businesses said they are
still rely on manual processes, but they are digitizing willing to try new or enhanced
rapidly and they want their finance partner to support trade finance and supply chain
their digital journey.22 products and services.24

Commercial Banking Top Trends in 2023 16

#6
Modern treasury management
for uncertain times

Low interest rates, consistent economic growth and new technologies have
changed the face of commercial banking over the past decade. During this
time, commercial banks expanded product capabilities, partnered with new
players and enhanced data solutions to protect and grow their fee income
in a dynamic landscape.

“Giving customers access to real-time data and advisory insights, and the
tools to manipulate that data, is giving leading banks a competitive edge.”

Commercial Banking Top Trends in 2023 17

Now, commercial banking leaders are retooling Increased automation, fewer errors and delays, Banks that continue to offer the same treasury products
their treasury businesses to address the environment and greater transparency into cash flows are the and services in the same manner they do today risk losing
of rising interest rates and escalating macro- associated benefits customers now seek. market share to their competitors that are modernizing
economic uncertainty. The power of real-time their treasury businesses for new competition and
payments, coupled with rising rates, is rapidly Integration where the customer needs it evolving customer needs. Those that have got it right are
shifting customer demands and forcing banks increasing their revenues, growing their portfolios and
to swiftly retool and modernize their payments Banks are evolving how they support treasury winning valuable commercial deposits.
and treasury management capabilities. management customers, focusing on easier integration
via secure application programming interfaces (APIs).
The basics of helping commercial customers to These solutions support customers’ preferences
manage cash and liquidity, move money and get and needs, regardless of whether they choose ERP 44% of North American
credit in a volatile marketplace matter more than ever. platforms, AP/AR applications or processing systems banking customers said
To address this need, the modernization of commercial as their integration points.
fintechs were a workable
banking platforms has become an imperative.
Giving customers access to real-time data and advisory alternative to bank-provided
In this current economic climate commercial banks insights—payables, receivables, cash flow positions— payment services.25
cannot count on pricing or product expertise alone and the tools to manipulate that data is giving leading
to meet the needs of their customers. They need to banks a further competitive edge. They can, for example, Respondents to a
enhance their technology advantage and turn ease follow an industry-agnostic path of creating offerings cross-industry treasury
of integration with corporate customers’ software that integrate their payment tools directly into business management survey said
into a competitive differentiator. Leading banks are solutions such as their customers’ ERP systems.
cost (56%), capability (31%),
taking their cue from fintechs and supporting their
Other banks are developing industry-specific Open ease of use (55%) and ease
treasury management customers with advanced
Banking solutions to gain market share in deposit- of integration (42%) are
integration options to manage their businesses.
rich segments. Take the example of a North American reasons to choose a fintech
Banking customers are already prepared to reap regional bank that acquired a global payments over a bank.26
the advantages of interacting with their banks via company that provides cloud software enabling media
accounts receivable (AR) and accounts payable (AP) and marketplace companies to manage residuals,
functionality in their enterprise resource planning royalties and other complex payments. Between 2020
(ERP) and treasury management software. and 2021, the company more than tripled the payments
processed on its platform to $1.55 billion.

Commercial Banking Top Trends in 2023 18

Conclusion
A time for careful consideration…and decisive action
This is a difficult time for decision making across all industries, and certainly for those in commercial
banking. Inflation increased sharply throughout 2022 but now appears to be taking a breather—
although economists seem loath to predict its trajectory in the short to medium term. Rising interest
rates threaten the growth and even viability of many commercial customers, but simultaneously
present banks with a clear financial advantage over non-banks and fintechs.
In the first half of 2023, uncertainty will be the prevailing wind, but banks—and particularly commercial
banks—have a real opportunity to capitalize on both the ‘now’ and ‘what’s next’. Right now, it’s about
taking a deep breath, finishing unfinished business and in-flight projects, and riding out the uncertainty
by ensuring their foundation is strong—while getting ready to shift rapidly to growth mode and
accelerated investment dollars.
To execute this shift effectively when the time comes, banks should start now to reinvent themselves
and reposition for the future. Success in 2023 will be as much about managing the near-term
headwinds as having a deliberate strategy and action plan for what comes next.

Commercial Banking Top Trends in 2023 19

References
1. PYMNTS, “Higher Institutional Expenses Lead to $370B 14. Reclaim Finance, “New Report: World’s Biggest Banks Continued to
Decline in US Bank Deposits”, 13 September 2022. Pour Billions into Fossil Fuel Expansion in 2021”, 30 March 2022.

2. CFO, “1 in 4 Banks Reported Tightening Loan Terms 15. Accenture internal research, July 2022.
in Q2: Weekly Stat”, 3 August 2022.
16. Accenture, “Embedded Finance for SMEs: Banks and
3. Gartner, “Financial Services: Compare States of Technology Investment for Digital Platforms”, 15 December 2021.
Commercial Banking Competitiveness”, 11 August 2022. Gartner is a registered
17. The Financial Brand, “Bank as Fintech: The Future Model for Banking?”, 5 July 2022.
trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S.
and internationally and is used herein with permission. All rights reserved. 18. Accenture, “Embedded Finance for SMEs: Banks and
Digital Platforms”, 15 December 2021.
4. Ibid.
19. Ibid.
5. Celent, “Technology Trends Provisory: Corporate Banking 2023 edition”.
20. Accenture, “Find Your Competitive Advantage in Trade Finance”, 20 October 2022.
6. Accenture, “Care to Do Better”, 23 September 2020.
21. Ibid.
7. Ibid.
22. Accenture, “Find Your Competitive Advantage in Trade Finance”, 20 October 2022.
8. Accenture, “Rising to the Challenge of Net Zero Banking”, 8 November 2022.
23. Ibid.
9. Accenture, “ESG Measurement Study”, 2022.
24. Ibid.
10. Ibid.
25. 25. Accenture, “What Banks Can Do to Grow Their
11. Accenture, “Rising to the Challenge of Net Zero Banking”, 8 November 2022.
Treasury Business”, 30 August 2022.
12. CDP, “Finance Sector’s Funded Emissions Over 700
26. Ibid.
Times Greater Than Its Own”, 28 April 2021

13. Accenture, “Rising to the Challenge of Net Zero Banking”, 8 November 2022.

Commercial Banking Top Trends in 2023 20

Authors Contributors About Accenture
Accenture is a leading global professional services company
Humad Ahmed
Jared Rorrer humad.ahmed@accenture.com that helps the world’s leading businesses, governments and
Managing Director other organizations build their digital core, optimize their
Global Commercial Banking Lead Melissa Alterman operations, accelerate revenue growth and enhance citizen
jared.rorrer@accenture.com melissa.a.alterman@accenture.com services—creating tangible value at speed and scale. We are
a talent and innovation led company with 738,000 people
Nicole Crowder serving clients in more than 120 countries. Technology is at
Chris Scislowicz renada.n.crowder@accenture.com the core of change today, and we are one of the world’s leaders
Managing Director in helping drive that change, with strong ecosystem relationships.
Global Lending Lead Jake Horne We combine our strength in technology with unmatched industry
chris.g.scislowicz@accenture.com jacob.a.horne@accenture.com experience, functional expertise and global delivery capability.
We are uniquely able to deliver tangible outcomes because of
Kim Kacal our broad range of services, solutions and assets across Strategy
kimberly.l.kacal@accenture.com
Rishi Chawla & Consulting, Technology, Operations, Industry X and Accenture
Managing Director Song. These capabilities, together with our culture of shared
Edvina Kapllani
Strategy & Consulting, Banking success and commitment to creating 360° value, enable us to
edvina.kapllani@accenture.com
rishi.chawla@accenture.com help our clients succeed and build trusted, lasting relationships.
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