Accenture – Commercial Bank Trends, 2024

Accenture has released a report on the top trends that are expected to shape commercial banking in 2024. Despite the challenges faced by banks in the corporate and SMB sectors, there are opportunities for growth and profitability through the adoption of artificial intelligence (AI) and other emerging technologies. While operational and regulatory concerns are prevalent, banks must also address the changing demands of commercial clients and the need to fortify asset quality. The global economy is experiencing shifts that require banks to modernize their digital core and strengthen their data capabilities to adapt to changing regulatory requirements and seize the opportunities presented by AI and data. Generative AI, in particular, is seen as a transformative technology that offers solutions to the pressing challenges faced by commercial banks. By embracing this technology, banks can enhance productivity, decision-making accuracy, and customer engagement. The time to act and invest in these transformative technologies is now, as they have the potential to revolutionize the commercial banking sector.