Two issues are challenging banks to capitalize on any sales momentum and risk sales inertia. Without data and analytics, banks will struggle to scale sales methodology and grow revenue — even if they have an effective sales methodology and highly trained team in place.
Current market dynamics are creating a new set of obstacles for financial institutions to meet commercial revenue targets in the face of economic uncertainty and deteriorating industries and sub-segments. In addition, frontline sales resources at banks have become consumed by servicing and monitoring activities as institutions refocused relationship managers to portfolio management during the coronavirus pandemic.
