Over the past several months, institutions have been managing through what may be the most significant societal and commercial challenges in generations. Near-term focus has been mobilizing workforces in a new environment, implementing business continuity planning, and supporting the lending programs provided under the CARES Act.
Moving forward in the new reality is likely to require further institutional transformation. Companies will need to address longer-term effects on overall strategy. Operating models may need to change, such as operational and technology resiliency, acceleration of digitization, branch and location strategy and employee technology.
Though there will be challenges ahead, there will also be opportunities. Together, for better, the banking and capital markets industry will weather this storm.