Banks have had to adapt quickly to function during COVID-19. For many, digitisation was the preserve of a few operational processes, and the industry is still way to reliant on paper to operate effectively in a virtual environment. The pandemic has driven home the message that digitisation and automation aren’t optional; they’re essential for resilience through a crisis.
The old school banks need to change to survive.
It’s not just the operational difficulties brought on by the pandemic. Banks in the UK and across Europe need to prepare for the end of the Brexit transition period, too.