Fintech Today
  • About
  • Banking
  • Insurance
  • Resources
    • COVID-19
Subscribe
No Result
View All Result
  • Digital Transformation
  • Customer Experience
  • Cybersecurity & Risk
  • Regulation & Compliance
  • Claims Management
Fintech Today
  • Digital Transformation
  • Customer Experience
  • Cybersecurity & Risk
  • Regulation & Compliance
  • Claims Management
No Result
View All Result
Fintech Today
No Result
View All Result
Home Banking

What Should Banks Prioritize to Thrive During and After COVID-19?

by Heidi Bullman
December 22, 2020
in Banking, Customer Experience, Digital Transformation
Reading Time: 5 mins read
A A
covid-19
Share on FacebookShare on Twitter

Fintech Today curates the latest news and trends in the financial technology industry. In this roundup, we’re covering what banks and other financial organizations can do to thrive amid, and post, COVID-19. This includes keeping customers front and center of business and technology decisions, investing in secure remote solutions, and prioritizing responsible banking.

CUSTOMERS MUST BE FRONT AND CENTER OF BUSINESS AND TECHNOLOGY DECISIONS

COVID-19 has helped banks prioritize many different aspects of their businesses. “What is clear is that both banks and insurers are committed to putting the customer front and center of their business and technology decisions. Chetan Kandhari, SVP, Chief Innovation Officer and Digital Officer, Nationwide Mutual Insurance Company and Navy Federal Credit Union CEO Mary McDuffie, agreed that tech tools like AI, are enabling banks, credit unions, and insurers to emotionally connect with the customer.”

Read the full article here.

SECURE REMOTE SOLUTIONS WILL HELP BANKS STREAMLINE OPERATIONS

Currently, most, if not all, banks and financial organizations are operating remotely. But in order to ensure successful operations and ultimately achieve customer satisfaction, banks need systems that are built to support business continuity. “Getting secure, remote access right is a challenge for banks,” explained industry leader, Douglas McCuaig of Cognizant. “The key is to balance workable, short-term solutions with an eye toward creating an overall, permanent strategy for digital operations. Banks can then focus on improving their WFA collaboration platform to drive productivity and a better experience for employees, partners, and customers; and designing the end-to-end digitization of their business.”

Read the full article here.

RESPONSIBLE BANKING IS MORE IMPORTANT THAN EVER

The pandemic is reshaping consumer banking behavior in significant ways. Customers now demand greater flexibility – with security – and, more importantly, responsible banking. “For all banks, behaving ethically and doing the right thing will be important to consumers’ purchasing decisions. [According to an EY survey], more than half of the respondents indicate that their future purchasing decisions will be impacted by banks actively supporting the community, being transparent in all they do, and ensuring they are doing good for society. Conversely, 44% say purchasing decisions will be negatively impacted where they see banks focusing on maximizing profits during this time.”

Read the full article here.

To keep up with industry news and trends, subscribe here. 

Tags: bankingtechbanksCognizantCOVID-19EYfinancial technologyresponsible bankingsecure remote solutions

RELATED POSTS

Contributed Articles

CfaaS: Compare-as-a-Service

August 3, 2022
Pandemic Relief Fraud
Banking

Artificial Intelligence Helps Combat Fraud, Waste, and Abuse and Protects $5 Trillion in Pandemic Relief Funding

June 9, 2022
Costs of Doing Business
Digital Transformation

Health Insurers Look to Reduce the Costs of Doing Business in 2022

December 15, 2021

TRENDING NOW

  • cyber

    Cyber Ranges: How Some Banks are Combatting Cyber Crime

    503 shares
    Share 201 Tweet 126
  • Monetizing Data: Follow the Yellow Brick Road

    598 shares
    Share 239 Tweet 150
  • Arizona’s Motor Vehicles Department (MVD) Makes Payment Offerings More Accessible

    676 shares
    Share 270 Tweet 169
  • AI in Financial Services: Where Does Ethics Fit In?

    571 shares
    Share 228 Tweet 143
  • When Public Sector Employers Prioritize Financial Wellness, Everyone Benefits

    493 shares
    Share 197 Tweet 123

CONNECT WITH US

Advertisement Banner Ad Advertisement Banner Ad Advertisement Banner Ad
Advertisement Banner Advertisement Banner Advertisement Banner

BECOME AN INSIDER

Get Financial Technology Today news and updates in your inbox.

Strategic Communications Group is a digital media company that helps business-to-business marketers drive customer demand through content marketing, content syndication, and lead identification.

Related Communities

Future Healthcare Today
Government Technology Insider
Modern Marketing Today
Retail Technology Insider
Today’s Modern Educator

Quick Links

  • Home
  • About
  • Contact Us

Become a Sponsor

Financial Technology Today offers content and advertising sponsorships to leading technology solution and service providers. Interested in becoming a sponsor? Contact us!

© 2023 Strategic Communications Group, Inc.
Privacy Policy      |      Terms of Service

No Result
View All Result
  • Home
  • About
  • Banking
  • Insurance
  • Categories
    • Digital Transformation
    • Customer Experience
    • Cybersecurity & Risk
    • Regulation & Compliance
    • Claims Management
  • Contact Us