Research: Banks shift consumers and employees to digital channels
- Recent data show that banks moved quickly to support customers and employees during the pandemic.
- In spite of the disruption, banks are planning to get back to bigger projects.
82 percent of responding banks rated their online and mobile channels as “vital” to operations during the pandemic. That’s according to new research from SRM. Branch footprints have been in a multi-year downtrend. Response to COVID-19 has seen widespread closures that will accelerate the move to digital.
“Though it is unlikely that any financial institution expected to break the seal on the pandemic continuity plan in 2020, the respondents of our survey appear to be taking the steps required to limit the impact of COVID-19 and, hopefully, expedite a recovery,” said Brad Downs, CEO of SRM.
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