The Digitalization Megatrend & the Banking Industry
Reshaping the global banking industry
The Banking industry is facing massive challenges today. The effects of the Covid-19 pandemic have added an additional layer on top of the low interest rates, regulatory changes, and the digital disruption that have challenged the traditional bank business model long before the Covid crisis began. However, the banking industry’s response to the pandemic is noteworthy. Many banks went fully virtual in a matter of weeks, effectively deploying technology and showing impressive agility and resilience as COVID-19 reshaped the global banking industry, bringing in a new wave of innovation and accelerating digitization.