Digital technologies boosted COVID response

  • Banks will use the context of COVID-19 and the conditioning of digital interactions to break the inertia of digital adoption,” wrote Deloitte in the early months of the pandemic. The survey results indicate this is precisely what is happening. 

  • Across the board, financial services firms are placing a greater priority than those in other industries on customer experience, sales and marketing, operations, and product and service delivery. 

  • Financial firms have already been heavily impacted by the shift to digital channels, and the loss of in-person interactions gave new urgency to their digital transformation initiatives. Some sub-sectors are moving more quickly than others. For example, 75% of payments firms and 73% of capital markets and exchanges companies say they are well along the transformation curve. That compares to 62% of the universe of respondents across all industries.

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