{"id":5374,"date":"2025-10-16T10:14:12","date_gmt":"2025-10-16T04:44:12","guid":{"rendered":"https:\/\/getvymo.com\/us\/blog\/?p=5374"},"modified":"2025-10-28T14:08:17","modified_gmt":"2025-10-28T08:38:17","slug":"commercial-banking-trends","status":"publish","type":"post","link":"https:\/\/vymo.com\/blog\/commercial-banking-trends\/","title":{"rendered":"Commercial Banking Top Trends \u2013 Sales and the Digital Conversation"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>[vc_row][vc_column]<style>@media (min-width: 992px) { .ld_spacer_69dfcd1011d8d{height:15px};}<\/style>\r\n<div class=\"ld-empty-space ld_spacer_69dfcd1011d8d\"><\/div>[vc_column_text]Let\u2019s first address the elephant in the Virtual Room \u2013<\/p>\n<p><strong>Data is the new currency<\/strong>, and yet are the Banks of today able to tap into the true potential of this currency? Again, why and more importantly how can Data be an enabler in the Digital Transformation of the Bank\u2019s Sales Team?<\/p>\n<p>In retrospect, 2020-2021 has been a springboard for Banks to accelerate their Digital Journey. One of the upsides of the COVID-19 pandemic has been that it has created a \u2018Deskless Environment\u2019 \u2013 giving rise to a multi-tasking, telecommuting, Mobile-first Sales Force. A sales rep can now browse\/ update his calendar, plan his week, schedule meetings, interact with his clients, connect with teams across the globe, and much more &#8211; through a few quick clicks on his mobile!<\/p>\n<p>Going into 2022, we\u2019ll see these trends sticking as Digital Banking becomes the New Normal.<\/p>\n<p>These are the Top 5 Commercial Banking trends that rewrote the Sales Playbook in 2021:[\/vc_column_text]<style>.ld_images_group_element_69dfcd1011e77 {margin-bottom:10px !important;  } .ld_images_group_element_69dfcd1011e77 {margin-bottom:10px !important;  } <\/style><div id=\"ld_images_group_element_69dfcd1011e77\" class=\"lqd-imggrp-single ld_images_group_element_69dfcd1011e77\"   >\r\n\t\r\n\t<div class=\"lqd-imggrp-img-container\"    >\r\n\t\t\r\n\t\t\t\t\r\n\t\t\t\t<figure ><img loading=\"lazy\" decoding=\"async\" width=\"2400\" height=\"1200\" src=\"data:image\/svg+xml,%3Csvg xmlns=&#039;http:\/\/www.w3.org\/2000\/svg&#039; viewBox=&#039;0 0 2400 1200&#039;%3E%3C\/svg%3E\" class=\"attachment-full size-full ld-lazyload\" alt=\"\" data-src=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/63.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/63.jpg 2400w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/63-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/63-1024x512.jpg 1024w\" data-sizes=\"(max-width: 2400px) 100vw, 2400px\" data-aspect=\"2\" title=\"\"><\/figure>\t\t\t\t\t\t\t\t\r\n\t<\/div><!-- \/.lqd-imggrp-content -->\r\n<\/div><!-- \/.lqd-imggrp-single -->[vc_column_text]<\/p>\n<h2><strong><strong>1. Digitalization-<\/strong><\/strong><\/h2>\n<p>The last 18 months saw social distancing catalyze the adoption of contactless technologies. What were digital experiments in 2019 became actionable insights in \u201820-21.<\/p>\n<p>For example, a chunk of the work-week of a sales rep in 2019 would have started and ended on the road visiting clients and stakeholders. In 2021, it&#8217;s highly likely that the sales rep will wake up and reach out to his\/ her mobile. The Mobile-first sales rep is tech-savvy and scrolls through her calendar to schedule meetings, interact with teams, prioritize leads, and cross-sell\/ up-sell products.[\/vc_column_text]<style>.ld_images_group_element_69dfcd101f39f {margin-bottom:10px !important;  } .ld_images_group_element_69dfcd101f39f {margin-bottom:10px !important;  } <\/style><div id=\"ld_images_group_element_69dfcd101f39f\" class=\"lqd-imggrp-single ld_images_group_element_69dfcd101f39f\"   >\r\n\t\r\n\t<div class=\"lqd-imggrp-img-container\"    >\r\n\t\t\r\n\t\t\t\t\r\n\t\t\t\t<figure ><img loading=\"lazy\" decoding=\"async\" width=\"2400\" height=\"1200\" src=\"data:image\/svg+xml,%3Csvg xmlns=&#039;http:\/\/www.w3.org\/2000\/svg&#039; viewBox=&#039;0 0 2400 1200&#039;%3E%3C\/svg%3E\" class=\"attachment-full size-full ld-lazyload\" alt=\"\" data-src=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/62.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/62.jpg 2400w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/62-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/62-1024x512.jpg 1024w\" data-sizes=\"(max-width: 2400px) 100vw, 2400px\" data-aspect=\"2\" title=\"\"><\/figure>\t\t\t\t\t\t\t\t\r\n\t<\/div><!-- \/.lqd-imggrp-content -->\r\n<\/div><!-- \/.lqd-imggrp-single -->[vc_column_text]<\/p>\n<h2>2. <strong>Virtualization of the SalesForce- <\/strong><\/h2>\n<p>This trend enabled Banks to capitalize on COVID-19 disruptors including remote work, mobile, and virtual interfaces. The stay-at-home order gave rise to the \u2018anywhere\u2019 concept as Sales Reps interacted with their teams and clients through SMS, Zoom meetings, WhatsApp messages, and video-audio conferencing. Siloed sales and marketing processes gave way to automated, collaborative engagements \u2013 further enhancing lead generation and management.<strong><br \/>\n<\/strong><\/p>\n<h2>3. <strong>Intelligent Interactions- <\/strong><\/h2>\n<p>Gazillions of data are generated from a Bank daily. How to separate the \u2018sense from the nonsense\u2019 and hence mobilize the sales force with timely and actionable insights? 2021 saw Sales managers emphasize quality rather than quantity. This led to \u2013<strong><br \/>\n<\/strong><\/p>\n<ul>\n<li>A transparent view of the sales pipeline to easily track customer experience from prospect to sale.<\/li>\n<li>Data segmentation to improve customer profiling.<\/li>\n<li>Better control and monitoring of sales activities to predict trends and plan robust investments.<\/li>\n<\/ul>\n<p>[\/vc_column_text]<style>.ld_images_group_element_69dfcd102da31 {margin-bottom:10px !important;  } .ld_images_group_element_69dfcd102da31 {margin-bottom:10px !important;  } <\/style><div id=\"ld_images_group_element_69dfcd102da31\" class=\"lqd-imggrp-single ld_images_group_element_69dfcd102da31\"   >\r\n\t\r\n\t<div class=\"lqd-imggrp-img-container\"    >\r\n\t\t\r\n\t\t\t\t\r\n\t\t\t\t<figure ><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"600\" src=\"data:image\/svg+xml,%3Csvg xmlns=&#039;http:\/\/www.w3.org\/2000\/svg&#039; viewBox=&#039;0 0 1200 600&#039;%3E%3C\/svg%3E\" class=\"attachment-full size-full ld-lazyload\" alt=\"Buyer journey\" data-src=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/48.jpg\" data-srcset=\"https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/48.jpg 1200w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/48-300x150.jpg 300w, https:\/\/vymo.com\/blog\/wp-content\/uploads\/2021\/11\/48-1024x512.jpg 1024w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\" data-aspect=\"2\" title=\"\"><\/figure>\t\t\t\t\t\t\t\t\r\n\t<\/div><!-- \/.lqd-imggrp-content -->\r\n<\/div><!-- \/.lqd-imggrp-single -->[vc_column_text]<\/p>\n<h2>4. <strong>Insightful Coaching-<\/strong><\/h2>\n<p>2021 reiterated the fact that a sales team can only be as strong as its weakest link.<br \/>\nConsider the following scenario \u2013 James and Jane are hardworking sales reps. Both are friendly, follow-up leads and walks the talk yet (and that\u2019s where actionable data scores over assumptions) James consistently converts 2X more leads than Jane. How is Jane not able to deliver desired results even though she made 3X more client calls than James during the same time frame? This is where contextual coaching and manager intervention can assist Jane to course correct and improve performance.<\/p>\n<p>Data Analysis enables sales teams to learn from past experiences, optimize present communication and pre-empt stumbling blocks.<\/p>\n<h2><strong>5.\u00a0 Automating Repetitive Tasks<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Finally, automation and revamping of legacy systems ruled the roost in 2021. Automating repetitive, low-level tasks, freed sales reps to concentrate on their core strength \u2013 selling. Gone are the days of cumbersome paper trails and multiple-click CRMs \u2013 that were rarely revisited. The modern\u00a0<\/span><a href=\"https:\/\/www.youtube.com\/watch?v=sxbdhIgLDIA\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Sales Enablement Platform<\/span><\/a><span style=\"font-weight: 400;\">\u00a0is lean and clean, built keeping in mind the on-the-go lifestyle of a sales rep.<\/span>[\/vc_column_text][vc_column_text]<\/p>\n<h2><strong>How does Vymo enable your Sales Team in their Digital Transformations?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">A\u00a0<\/span><a href=\"https:\/\/www.youtube.com\/watch?v=GuhOel6_ns4\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">recent presentation<\/span><\/a><span style=\"font-weight: 400;\">\u00a0by Paul Walker, Director of Sales, Vymo US, underlines how <a href=\"https:\/\/vymo.com\/\" target=\"_blank\" rel=\"noopener\">Vymo<\/a> is the apt Personal Sales Assistant to a Commercial Bank\u2019s SalesForce.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are the top 5 ways that Vymo trended in 2021:\u00a0<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Auto-capture of <a href=\"https:\/\/vymo.com\/sales-iq\/\" target=\"_blank\" rel=\"noopener\">Sales Activities<\/a><\/b><span style=\"font-weight: 400;\">\u2013 be it calls, emails, messages, chats, or meetings &#8211; both remote and in-person<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Create Gold Standard Playbooks<\/b><span style=\"font-weight: 400;\">\u00a0\u2013 based on past experiences and the sales interactions of top performers<\/span><\/li>\n<li><b>Contextually Coach Sales Team<\/b><span style=\"font-weight: 400;\">\u00a0\u2013 through nudges (suggestions) and next best actions\u00a0<\/span><\/li>\n<li><b>Geofencing and intelligent routing\u00a0<\/b><span style=\"font-weight: 400;\">\u2013 to reduce TAT and discover best-fit sales opportunities\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><a href=\"https:\/\/vymo.com\/integrations\/\" target=\"_blank\" rel=\"noopener\">Integrate<\/a> with SMS, Email, and third-party conferencing\u00a0<\/b><span style=\"font-weight: 400;\">tools like WhatsApp, Zoom, Microsoft Teams, and Webex<\/span><\/li>\n<\/ol>\n<p><strong data-start=\"282\" data-end=\"390\"><a href=\"https:\/\/vymo.com\/request-a-demo\/\" target=\"_blank\" rel=\"noopener\">Book a demo<\/a> to explore how leading banks are turning every digital interaction into a sales opportunity.<\/strong>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]Let\u2019s first address the elephant in the Virtual Room \u2013 Data is the new currency, and yet are the Banks of today able to tap into the true potential of this currency? Again, why and more importantly how can Data be an enabler in the Digital Transformation of the Bank\u2019s Sales Team? In retrospect, 2020-2021 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54],"tags":[51,53,52,55],"class_list":["post-5374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail-banking","tag-nobile-first-solution","tag-retail-banking","tag-rms","tag-sales-enablement"],"_links":{"self":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/5374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/comments?post=5374"}],"version-history":[{"count":3,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/5374\/revisions"}],"predecessor-version":[{"id":37439,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/5374\/revisions\/37439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/media\/5378"}],"wp:attachment":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/media?parent=5374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/categories?post=5374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/tags?post=5374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}