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Purpose Driven Transformations for BFSI Firms
Leading economic rebuilding efforts in the Post-COVID-19 World
The challenges unleashed by the COVID-19 crisis on the global social and business fabric are perhaps the most serious in a century. Needless to say, the COVID-19 impact on banking and insurance is being felt across segments and sub-segments. However, thanks to the regulatory onslaught post the 2008 economic crisis, banks are well equipped to weather the COVID-19 storm as well as aid economic recovery. To thrive in the new post COVID reality, banking, financial services and insurance (BFSI) firms’ response strategy must include components that ensure resilience, value leadership, and growth.
To emerge stronger and lead in the post crisis world, BFSI firms must address the COVID-19 impact on financial services and insurance by
- Funding impacted industries to infuse resilience and drive economic recovery and stability
- Speeding up digitalization to adapt to the new business environment
- Evolving into purpose-driven entities to enable future-proofing and achieve sustainable growth
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