FinServ firms are asking new questions
This leads on to a number of questions that many financial services businesses – as well as other companies – are asking themselves:
- With many solutions not being used to their fullest, are we making the best use of the tools that are in place? Are there capabilities that we can extend into other processes or departments to ease pressures in those areas?
- How many legacy processes and technologies do we have that worked well when all participants were office-based, but have proven difficult or even broken when participants are working from home?
- What happens when the pandemic restrictions are eased and staffers begin to return to the office? How will our processes work when some staff are in the office yet others are still working from home? That may increase the strain on our resources and processes could become even more arduous to carry out.
While COVID-19 imposes a number of business challenges, particular in financial services, it might also be seen as a force for positive change. It can drive the migration from manual, paper-based processes to more automated solutions, in turn leading to more efficient processes and better service for your clients.