The global pandemic has accelerated the pace of financial services digitization

The COVID-19 pandemic has undoubtedly shaken up the financial services industry. Banks have been designated as essential businesses and have for the most part remained open, but the normal way of doing business has disappeared. Bank branches around the world are being forced to cut hours, limit the number of staff present and, in some cases, make customer visits by appointment only.

While people of all ages are getting more and more comfortable doing their personal banking online, business banking customers are also turning to digital banking platforms as an alternative to in-person branch visits. Banks are struggling to keep up with this rapid shift in the types of online service offerings their clients are demanding.

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