Trends Report

Plan For The Evolution Of Banking With Three COVID-19 Scenarios

How Banking Execs Should Prioritize Across Customer Experience, Digital, Marketing, IT, Process, And Employee Experience

August 26th, 2020
Peter Wannemacher, Principal Analyst
Peter Wannemacher Principal Analyst
Meng Liu, Senior Analyst
Meng Liu Senior Analyst
Zhi-Ying Barry, Senior Analyst
Zhi-Ying Barry Senior Analyst
Jacob Morgan, null
Jacob Morgan
Jost Hoppermann, null
Jost Hoppermann
Luis Deya, null
Luis Deya
With contributors:
Oliwia Berdak , Anna Vyshnevska , Rachel Birrell

Summary

COVID-19 has dampened banks' profits worldwide as they set aside billions for loan loss provisions. How banks fare depends on the broader how and when of pandemic and economic recovery. To help banking executives plan ahead in these uncertain times, this framework details three business scenarios and charts their impact on customers, products, the competitive landscape, technology, and regulation. It also helps banking executives prioritize in six business areas: CX, digital, marketing, IT, process, and EX.

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