When COVID-19 hit, the banking industry was caught off-guard, needing to provide financial services without physical structures, deliver relief to consumers and small businesses in ways never imagined, accelerate digital transformation and innovation efforts, and perform all of these in a remote work environment.
With the pandemic crisis mode mostly in the rearview mirror, financial institutions are determining the next best action – placing their bets for the future. Some are doubling down on investments in data, analytics, advanced technology and the reskilling of workforces. Others are delaying or cancelling projects, focusing mostly on improving digital maturity and efficiency.
We are joined today by Jim Eckenrode, managing director of the Deloitte Center for Financial Services. On the show, Jim discusses how the financial services industry adjusted to the impact of the pandemic, and what the outlook for the industry will be in 2021 and beyond.