The COVID-19 pandemic is a true crisis in every sense of the word. It has swept the globe and caused unprecedented disruption and damage. Entire countries were confined to their homes for months. Large sectors of the economy have come to a standstill. Citizens everywhere are stressed and fear for the future. Governments, organizations, and companies are doing their best to manage an unprecedented situation. In a period of such uncertainty, everyone is wondering what type of future is in store.
The following topics will be addressed by renowned experts in retail banking:
Why traditional banks will see mass departures post-pandemic?
- big banks were not built digitally and stalled or failed massively when the lockdown occurred
- customers - both retail and commercial - will hear the good and bad of those institutions during this crisis
- businesses born on the internet (fintech, challenger banks, etc) were built for a lockdown, traditional banks were not, as a result, people will switch post-pandemic to firms built for digital
COVID-19 : innovation and digital to better serve employees and clients
- change in consumer habits (less consumption, more savings) – branches still open during crisis
- opportunity for neobanks that offer these services (Bourso)
- impacts of COVID on ecosystem
Culture eats strategy for breakfast
- What can banks learn (and avoid) from the culture of startups, fintech, and big tech
- How do we fix this and what are the new 5Ps to get there (Purpose, Platform, Partnerships, Productivity & of course People)