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Hari Krishna Prasad G
Lead, Banking Industry Advisory Group, Banking, Financial Services and Insurance, TCS
Srinivasa Kumar Yerchuru
Head, Industry Advisory Group, Banking, Financial Services and Insurance, TCS
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The global financial services industry has withstood the COVID-19 crisis without major service disruptions. However, the impact of COVID-19 on banks has exposed several gaps in business and operating models. Even as banks scramble to deal with the adverse fallout on their business and operations, they will need to play a key role in facilitating economic recovery and growth. In defining banks’ response to the COVID-19 crisis, the focus must be on drawing up a strategy built on the three pillars of resilience, value leadership and growth to drive fundamental transformation and future-proof to weather such storms, going forward.
To address the COVID-19 impact on banking, overcome challenges created by the crisis, and emerge stronger, financial institutions must:
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