Driving Organic Growth: Identify and Capitalize on Referrals in Commercial Banking

By establishing a shared view of the client across the organization, firms are better able to share information and leverage workflows that support cross-bank referrals. Banks are increasingly focusing on driving revenue growth by selling more products and services to existing clients.

Compared to the time, cost, and effort to acquire new clients, this approach makes good sense. It is far more cost effective to market to existing clients than to onboard new clients and these opportunities have a higher success rate.

The status quo is about to change, however, as these organizations redefine their referral model.