Post by Codat

Our research found that 68% of mid-sized businesses now work with more banks than they did 3-5 years ago, and half work with three or more banks at the same time. We've started calling this trend 'polybanking', and it's moved firmly onto the commercial banking agenda. The reasons vary: a specific product need that sent a client elsewhere or a deliberate decision to spread risk across institutions. But the thread running through all of it is the same: earning the full relationship is getting harder. For commercial banks, that means fragmented data, fragmented revenue, and continued churn risk. Winning the primary relationship in the mid-market is one of the most commercially significant opportunities in the sector right now. Loan growth and fee revenue tend to follow. The banks making progress on this have one thing in common: a clearer picture of what's actually happening inside their clients' businesses than their competitors do.