Lessons learned during COVID-19

The global pandemic has thrust change upon the Canadian banking system at a pace not seen before. The response to COVID-19 has necessitated much more effective ways of working—demonstrated in real time—and there is now little appetite to go back to “business as usual.”

As a result, we are at an inflection point that allows us to reimagine operating models as banks recover. The moment is not to be lost: those who spend the time and energy that it will no doubt take to institutionalize key elements of what worked well will be better off, and far more ready to compete—and win—than those who do not.

Read the full report to understand the lessons learned by the Canadian banking system during their response to COVID-19. Our perspectives within the report were informed by discussions with 30 senior executives from Canada’s six largest banks.