Covid-19 Playbook for Financial Services

Covid-19 Playbook for Financial Services

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The novel coronavirus, COVID-19 has turned into a global crisis, evolving at an unprecedented speed and scale. As governments take immediate actions to cope with the outbreak, businesses are rapidly adapting to the changing needs of people, consumers and suppliers while also trying to overcome the financial and operational challenges. The outbreak has severe impacts on consumer behaviour as well as the world economy. GDP is taking a currently having a serious beating. The size of the impact in different parts of the world will depend mainly on how long the present situation lasts. As the pandemic continues, more and more industries are feeling the strain. The financial industry is certainly one of them. Whilst, the current situation is challenging for the industry, if well-handled it can also bring opportunities for innovation and long-term customer loyalty. Now, more than ever, financial industry must focus on areas that can thrive in a post-COVID-19 world. The financial industry can open up opportunities by taking some critical key actions during this crisis. This report aims to give an overview of the shifting landscape across many industries but mainly focuses on the implications of COVID-19 on financial industry and how banks can enhance their capabilities to survive during these rough times. Main topics covered in this playbook are as below: 1. The impact of COVID-19 - Global Overview ​2. How Banks Should Face the Crisis: COVID-19 Playbook3. How to Invest in Digital Capabilities: Digital Roadmap

Covid-19 Playbook for Financial Services

The novel coronavirus, COVID-19 has turned into a global crisis, evolving at an unprecedented speed and scale. As governments take immediate actions to cope with the outbreak, businesses are rapidly adapting to the changing needs of people, consumers and suppliers while also trying to overcome the financial and operational challenges. The outbreak has severe impacts on consumer behaviour as well as the world economy. GDP is taking a currently having a serious beating. The size of the impact in different parts of the world will depend mainly on how long the present situation lasts. As the pandemic continues, more and more industries are feeling the strain. The financial industry is certainly one of them. Whilst, the current situation is challenging for the industry, if well-handled it can also bring opportunities for innovation and long-term customer loyalty. Now, more than ever, financial industry must focus on areas that can thrive in a post-COVID-19 world. The financial industry can open up opportunities by taking some critical key actions during this crisis. This report aims to give an overview of the shifting landscape across many industries but mainly focuses on the implications of COVID-19 on financial industry and how banks can enhance their capabilities to survive during these rough times. Main topics covered in this playbook are as below: 1. The impact of COVID-19 - Global Overview ​2. How Banks Should Face the Crisis: COVID-19 Playbook3. How to Invest in Digital Capabilities: Digital Roadmap

Covid-19 Playbook for Financial Services