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Financial Services: Adapting to the Coronavirus (COVID-19) Outbreak

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kiyara T
Financial Services: Adapting to the Coronavirus (COVID-19) Outbreak

Summary

 

In the short term, the impact of COVID-19 on consumer financial services will be analogous to the global financial crisis of 2008-09, creating a period of economic paralysis and leaving a massive hole in banks’ balance sheets.

 

This report provides an early assessment of the impact of the COVID-19 outbreak on the retail banking, payments, wealth management, and the insurance sectors.

 

Scope

  • - Banks are preparing for mass channel changes as customers are expected to shun branches
  • - Coronavirus offers unique opportunities for digital teams to ramp up, refine, and prove digital across a much wider range of wealth brackets, age groups, geographies, and use cases.
  • - Increased digital activity brought about by COVID-19 could spur greater adoption of fintech and personal financial management tools.
  • - Consumers will shift from in-store payments to online payments in order to avoid exposing themselves to the virus.
  • - Coronavirus highlights the intricacies of insurance policy wording and the gap in cyber insurance coverage.

Reasons to Buy

 

  • - This report identifies which retail banking markets will be hit hardest by the outbreak of COVID-19.
  • - Details how banks are reacting to the outbreak across different markets.
  • - Identifies which payment companies have the most exposure to POS terminals vs e-commerce.
  • - Explores how consumer payment methods will change and the impact upon the industry.
  • - Identifies which markets and investor types are most exposed to equities and funds.
  • - Discusses strategic options for wealth managers, drawing lessons from the previous global financial crisis.
  • - Highlights the impact of COVID-19 on insurance providers.


Table of content

Table of Contents
Retail Banking
Payments
Wealth Management
Insurance

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