Artificial Intelligence Changing the Way Banks View Middle Market Companies

Greenwich Associates Announces 2018 Greenwich Excellence and Brand
Awards in U.S. Middle Market Banking

STAMFORD, Conn.–(BUSINESS WIRE)–Middle market companies could soon experience changes in how banks view
and service them due to banks’ adoption of sophisticated artificial
intelligence (AI) systems that rank companies in terms of their
potential profitability as clients. That’s one of the important
takeaways from the 2018 Greenwich Excellence and Best Brand Awards in
Middle Market Banking, which recognize banks that deliver outstanding
quality to business clients.

At the top of the list of 2018 winners is Frost Bank, winning a total of
14 Greenwich Excellence and Best Brand Awards. Hancock Whitney won 13
and IBERIABANK, Pinnacle Financial and Synovus Financial, each won 12.

Leading banks are betting on technology as a key driver of their future
business, in one form or another. “While business owners and corporate
executives tend to think of bank technology in terms of client portals
and mobile apps, IT advances are having as big an impact behind the
scenes as they are in these customer-facing channels,” says Greenwich
Associates Managing Director Chris
McDonnell
.

One of the most important technological changes is the increasing use of
systems powered by AI and machine learning (ML) to analyze corporate
businesses and identify those companies that would make the best—meaning
most profitable—clients for banks. (For example, multiple market leaders
now utilize Greenwich Associates Explorer and Focus wallet models as a
source to drive tactical growth analytics by prioritizing opportunity
accounts at a company level.)

In middle market banking, the adoption of these platforms will, over
time, diminish the relevance of traditional client segments of region,
industry and even size. “For some companies—including newer businesses
and those with great growth potential—these changes will be for the
better,” says Greenwich Associates Vice President Dana
Schwaeber
. “Meanwhile, companies in more mature industries and
markets might see considerably less of their old bank relationship
managers, and find themselves ‘encouraged’ to do more of their banking
through digital platforms.”

“All else being equal, banks able to effectively deliver better insights
and advice to help business executives achieve their goals will win
disproportionate share of wallet over time,” says Greenwich Associates
Managing Director Don
Raftery
. “Hyper-customized client insights driven by predictive
analytics leveraging real-time data flows and AI / ML will help separate
the winners in the future of commercial banking.”

2018 Greenwich Excellence and Brand Awards in Middle Market Banking

Greenwich Associates evaluated the middle market banking platforms of
more than 600 banks in the U.S. in 2018. Of these, only 40 had the
distinctive quality required to win a Greenwich Excellence Award and
only 20 to win a Greenwich Best Brand Award.

The Greenwich Excellence Awards are based on interviews with over 14,000
middle market clients with sales of $10–500 million and cover a range of
product and service categories, including Overall Satisfaction,
Likelihood to Recommend, Cash Management: Ease of Product
Implementation, Cash Management: Customer Service, and other important
factors.

Click
here for the complete list of the 2018 Greenwich Excellence Award
winners in U.S. Middle Market Banking.

Click
here for the complete list of the 2018 Greenwich Best Brand Award
winners in U.S. Middle Market Banking.

Contacts

Greenwich Associates
Joan Weber, +1-203-625-4354
joan.weber@greenwich.com
or
Melanie
Riera, +1-203-625-5160
melanie.riera@greenwich.com

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