The Bank Insider Panel discussed strategies and tactics FIs are using to keep up with the accelerating pace of change amid the pandemic

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Insider Intelligence kicked off its second Bank Insider Panel on October 15, with Research Director Dan Van Dyke presenting data and moderating a conversation with three leading bank digital and strategy executives on how they are “Adjusting to a New Reality.” 

The panel focused on strategies and tactics to keep up with the accelerating pace of change amid the pandemic, featuring insights from panelists Brianna Elsass, who leads digital at BMO Financial Group; Mary Kate Loftus, who leads digital at M&T Bank; and Ben Hopper, who heads regional bank strategy at First Horizon Bank. You can view a recording of the event here.  

Here are four key takeaways from the panel and presentation. 

The pandemic rapidly accelerated digital transformation plans among banks—but short-term digital plans have been pushed to the wayside. Digital and mobile banking adoption, defined within the past month, have increased 6 percentage points year over year in 2020 to reach 73% and 55% of US adults, respectively, according to Insider Intelligence forecasts. As transactions, customer support, marketing, and account opening go digital, banks are sprinting to realign priorities and keep services running. For instance, Elsass noted that an internal focus on minimizing outages, …read more

Source:: Businessinsider – Finance


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