As U.S. Middle Market Firms Embrace Digitalization, Banks Face Mounting Pressure to Adapt

Coalition Greenwich Announces 2023 Greenwich Excellence, Best Brand and Share Leaders in U.S. Middle Market Banking

Middle market companies in the U.S. are rapidly embracing digitalization, causing significant shifts in the commercial banking sector.

Despite continued heavy investment by banks in their digital platforms, perceptions of these offerings among businesses have been declining since 2020, according to new data from Coalition Greenwich. This decline is attributed more to the increasing digital expectations of middle-market companies rather than any shortcomings in bank platforms.

The Greenwich Business Community, representing over 28,000 small and midsize U.S. businesses, serves as a platform for feedback and evaluation of banks on various metrics. Over 60% of companies with annual sales between $150 million and $2 billion identify themselves as “digitally native,” emphasizing the importance of banks adapting to the needs of this tech-savvy demographic.

Chris McDonnell, Head of Community, Commercial, and Digital Banking Analytics at Coalition Greenwich, emphasizes the necessity for banks to invest in upgrading technology offerings, improving mobile solutions, offering flexible APIs, and enhancing security measures to meet the demands of these digitally native businesses.

The 2023 Greenwich Excellence Award winners in U.S. Middle Market Banking are recognized for their adept utilization of digital banking and their commitment to superior service delivery to middle market companies.

For the complete list of 2023 Greenwich Excellence Award winners in U.S. Middle Market Banking, Best Brand Award winners, and Share Leaders, refer to the provided lists

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