Covid led millions to digital banking - the trend will continue

21 Jun 2021
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Covid led millions to digital banking - the trend will continue

21 Jun 2021

Key takeaways

Many consider the pandemic a tipping point for digital contactless payments, with Mastercard reporting 40% growth in such transactions around the world.

While a significant proportion of customers resisted banking away from branches, the pandemic made them appreciate the value of digital tools that help them avoid unnecessary contact.

Many banking functions can - and will - happen in a digital way without the need for anyone to be involved in the process.

In the US, many branch staff do not bank with their employer. Training them to better understand the technology can help them act as advocates for digital tools.