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Banks, Banking, Insurance, Fund Management
Banking and Financial Services strategies for a post-COVID world. As a physician by first training and a Futurist advisor / keynote speaker on industry trends and strategy to over 400 of the world's largest 2000 companies, I warned for years of the threat from new viral pandemics like COVID and of course multiple variants such as Delta and Omicron. My clients include many of the world's largest banks, with a proven track record of longer term forecasting over the last 25+ years, here are some guiding principles to banking and financial services beyond COVID. Global Crisis will accelerate pre-existing banking and payments trends. Most banking trends described in my books, including The Future of Almost Everything, will continue to shape the world as before, but the Coronavirus pandemic will bring forward the timings of many key events in many industries. Examples:
Huge further acceleration of online sales, mobile payments, mobile banking and business to business online transactions. Many Shopping Malls will struggle to re-open in developed nations. Physical retail will lose out even more to online shoppers, with big jump in online sales which will only partially reverse after the pandemic has ended. Airlines will consolidate more rapidly in Europe because of COVID-19, following US picture over the last decade. Larger airlines will be most likely to be rescued by governments. Borderline-non-viable airlines will be allowed to fold. Even faster growth of virtual working and virtual teams. Faster introduction of virtual learning into college education, MBAs, Business Schools and High Schools etc.
Here is more on COVID impact on banking strategies, national economies, government borrowing, interest rates, inflation rates, bank lending criteria, banking regulation and so on.
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Read more: World at war against common enemy with loss of freedoms and huge cash stimulus. COVID / Omicron impact on Banking, Banks, Payments, Financial Services, Fiscal Stimulus, Government Lending, Global Economy. COVID-19 and Coronavirus virtual keynote speaker