Member Exclusive

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.
close

Email a Friend

Research: Banks shift consumers and employees to digital channels

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.

 


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $59/mo Already an Outlier member? Sign in to your account

0 comments on “Research: Banks shift consumers and employees to digital channels”

Member Exclusive

Outlier Briefing: Best practices in digital onboarding with Ted Brown

  • The move to digital banking has focused on customer acquisition.
  • Today's guest explains why onboarding -- what happens after a new account opening -- is even more important.
Zachary Miller | October 01, 2020
Member Exclusive

Data Snacks: New data shows the majority of SMBs didn’t even bother to apply for PPP assistance

  • SMBs have struggled to survive during the pandemic.
  • A new survey shows that in spite of all the fintech resources, many didn't even bother applying for relief.
Zoe Murphy | September 17, 2020
4 charts, Member Exclusive

4 charts on the impact COVID-19 has had on consumer fintech adoption

  • With branches closed, Americans needed the lifeline that fintech provided during the crisis.
  • The number of fintech apps and the frequency people use them have both increased.
Zoe Murphy | September 15, 2020
Member Exclusive, Payments, Podcasts

Payoneer’s Charles Rosenblatt: ‘We found a way to play on both sides of the market’

  • Charles Rosenblatt has a long career in payments.
  • Joining Payoneer recently as chief strategy officer, he joins us to discuss the company's progress and future plans.
Zachary Miller | September 14, 2020
Member Exclusive

Outlier Briefing: Infosys’ Jay Nair on preparing for the day after the pandemic

  • Jay Nair is the head of financial services for Infosys across the Americas.
  • He joins us to discuss how financial services is emerging from the current pandemic.
Zachary Miller | September 09, 2020
More Articles