Commercial and corporate banking is undergoing a seismic shift. As the sector eyes a projected £3 trillion in global revenues by 2026, the race is on to capture market share through superior client experiences. At the heart of this transformation is the modernization of engagement platforms—powered by microservices, composable architectures, and a relentless focus on digital-first onboarding and relationship management. Fintechs are setting the pace, and incumbent banks must adapt or risk being left behind.
Unlike retail banking, commercial banking deals with complex, multi-entity clients, intricate ownership structures, and high-value relationships that span geographies and industries. Onboarding a new client is rarely a simple, single-user journey. Instead, it often involves multiple stakeholders, extensive documentation, and rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. For many banks, this process can take anywhere from seven to 42 days—an eternity in today’s digital economy.
The stakes are high: 67% of commercial clients cite onboarding and KYC as the biggest barriers to switching banks, and more than half are actively reviewing their banking relationships. The result? Banks lose billions in potential revenue each year due to friction in onboarding and servicing.
Fintech challengers have rewritten the rules of engagement. By digitizing customer journeys, reimagining colleague interventions, updating policies, and modernizing legacy systems, they have slashed onboarding times from weeks to as little as two to 48 hours. The impact is profound:
Fintechs achieve this by leveraging composable, modular engagement platforms. These platforms are built on microservices—discrete, loosely coupled components that can be rapidly assembled, replaced, or scaled as needed. This approach enables:
Traditional banks have long struggled with monolithic, inflexible systems that mirror their own organizational silos. This rigidity makes it difficult to personalize journeys, adapt to new regulations, or integrate innovative third-party solutions. In contrast, composable architectures—underpinned by microservices and event-driven orchestration—allow banks to:
This modularity is not just a technical advantage; it’s a strategic imperative. Banks can focus on differentiating capabilities—such as personalized onboarding or advanced risk assessment—while leveraging external partners for commoditized services. The result is faster time-to-market, lower costs, and a platform that evolves with client needs.
A modern, composable onboarding solution for commercial banking is designed around four key stages:
For standard cases, onboarding can be completed in as little as five to ten minutes. Even for complex, multi-entity clients, the process is reduced to hours rather than weeks.
Modern engagement platforms are not just about client-facing journeys. They also empower bank employees—RMs, compliance officers, and operations teams—with a unified view of the client, streamlined workflows, and AI-driven insights. By breaking down data silos and enabling real-time collaboration, banks can:
A composable data architecture—often leveraging a data mesh approach—ensures that data is accessible, secure, and actionable across the organization. This is critical for delivering hyper-personalized experiences and meeting evolving regulatory requirements.
At Publicis Sapient, we believe the future of commercial banking lies in truly modular, composable engagement platforms. Our approach is grounded in:
We have helped leading financial institutions reimagine their onboarding journeys—delivering measurable improvements in speed, client satisfaction, and operational efficiency. By embracing composable architectures, banks can not only meet but exceed the expectations set by fintechs, turning onboarding from a barrier into a competitive advantage.
The commercial banking sector stands at a crossroads. The opportunity is immense, but so are the challenges. To win in this new era, banks must:
The future of commercial banking is being written today. Those who act now—rethinking their engagement platforms and onboarding journeys—will not just participate in the sector’s growth; they will lead it.
Connect with Publicis Sapient to explore how your institution can embark on this transformative journey and redefine what’s possible in commercial banking.