COVID-19: Challenges and Opportunities in Financial Services

COVID-19 creates steep challenges for financial institutions, but patches of opportunities exist as well.

Boston, March 20, 2020 As governments around the world attempt to defend against COVID-19, financial institutions and their technology vendors are facing significant operational constraints as well as a rapidly deteriorating business climate, and many are experiencing an urgent need to identify bright spots.

“Governments’ moves to ‘flatten the curve’ are creating significant operational challenges for most financial institutions, not to mention risks to their business performance,” says Gwenn Bezard, co-founder and research director at Aite Group. “Opportunities exist though, and financial institutions and technology vendor leaders should not lose sight of those,” he continues.

In this report, Aite Group analysts bring to light a range of near-term challenges and opportunities for FIs in key verticals of the industry (Banking & Payments, Securities & Investments, and Insurance) and across the Fraud & AML and Cybersecurity functions. This report also provides analysts’ recommendations to FIs and their vendors.

Clients of Aite Group’s Institutional Securities & Investments, Wealth Management, Wholesale Banking & Payments, Retail Banking & Payments, Health Insurance, Life Insurance, P&C Insurance, Cybersecurity, or Fraud & AML service, as well as nonclients, can download this 28-page Impact Brief. To learn more about the topic covered in this Impact Brief, please contact us at [email protected].

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