Back to Reports

Coronavirus (COVID-19) - Banking, Payments & Wealth Management sector impact - 04 August 2021

Published: 04 August 2021 Code: GDCOV-TR-X078

Globaldata's report on the impact of COVID-19 on the banking & payments sector includes detailed coverage on the sector analysis, the impact of COVID-19, among others.

COVID-19 has spread to more than 198 countries, with a total of more than 194 million confirmed cases. More than 4 million people have died. The number of confirmed cases in the United States has exceeded 34 million and has increased again after a sustained decline. Hospitalization rates were seen in both the US and Israel They fall after vaccination, but the results are different because the delta mutation is predominant. This is probably due to the high vaccination rate overall in Israel.

Impact of COVID-19:

  • Between April to August 2021, hiring prospects has gradually increased
  • 27% of employees reported a significant growth in the productivity level during the work from home period
  • Confidence and activity are improving as markets look post COVID-19 recovery
  • Most offices will return to at least 50% capacity in the next six months
  • Most respondents continue to work from home full-time
  • Lack of social stimuli and unplugging after work are big challenges for remote workers

Access the report for more key findings on the above analysis.

Sector insight summary: Banking and Payments

The volume and velocity of channel shift amid the pandemic have focused retail banks on operational agility. Redesigning core infrastructure to be more modular has helped reduce interdependencies between processes, expediting time-to-market and limiting overall complexity and cost. As banks prepare for a zero-interest-rate environment, agile tech platforms will help banks pivot to new business models, such as Bank-as-a-Service (Baas) propositions and various types of B2B data sharing and/or enrichment. These alternative monetization strategies will bring data security and privacy into an even sharper focus.

Download our free report for more detailed insights on the impact of COVID-19 in the banking and payments sector.

Register below for a copy of your FREE report

 

First name is required
Last name is required
Job Title is required
Company is required
Work email is required
Country is required
Industry is required
 Tick here to opt-out of curated industry news, reports, and event updates from GlobalData
By clicking 'Submit' you agree to our Terms & Conditions and consent to us collecting your details for the purposes of your enquiry.
 

GDPR + CCPA Compliant

Personal & transactional information is kept safe from unauthorized use.

Visit our privacy policy for more information about our services, how we may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Still looking?

Have you explored all of our expert analysis? Uncover your next opportunity with our reports.

Explorer

Access more premium companies when you subscribe to Explorer