It wouldn't do for Mount & Blade 2: Bannerlord to have extremely similar combat to Warband. So, on that note, TaleWorlds have finally found time to implement new changes to the game, and not just focus on putting out fires.
As you head into battle, you will be met with another substantial update that was discussed previously in the Future Plans blog post. Order of Battle is a new strategic phase that takes place before each battle that allows you to assign captains and troops to formations.
Using one or more filters, you can divide your troops into different formations by troop type, giving preference to Shield, Spear, Throwing, and Heavy troops. After positioning your formations, you can issue them with a command for when the battle starts. Finally, newly added formation cards show the number of troops, type, ammo, and morale for each formation.
During the battle, you might notice some changes to the Morale system that aim to improve the overall battle gameplay experience, such as ranged kills now providing morale to allies, adjustments to morale damage from kills and fleeing agents, and agents regaining up to half of their initial morale in battles.
If you do manage to completely break your opponent and send them into full retreat, you can now press your advantage by ordering your troops to chase down fleeing enemies. The troops that are less likely to catch up to the routing force will pause to celebrate their hard-earned victory while the faster troops set off in pursuit.