Commercial banks fighting for market share in a consolidating industry have a powerful new weapon. Data analytics allows banks to identify and precisely target sales efforts at their best opportunities in ways that were impossible just a few years ago.
These tools are available to banks of all sizes, which is leveling the playing field in U.S. commercial banking as never before. In fact, Greenwich Associates proprietary data has identified $5 billion in commercial banking revenues up for grabs in the United States, including $2.7 billion among the market’s top 10 banks alone. Rivals—even smaller rivals—who can use data analytics to focus their sales strategies have an unprecedented opportunity to capture business and market share.
However, actually capitalizing on those opportunities is anything but simple. In this report, Greenwich Associates breaks down the steps needed by commercial banks to turn data analytics into a competitive advantage.