Article

Retail banking in the age of COVID-19

Scenarios for resilient leaders

With the COVID-19 pandemic the banking industry is in uncharted waters and leaders need to take decisive actions to ensure their organizations remain resilient. In this report, we provide global banking leaders with potential medium-term implications of COVID-19 for the retail banking sector.

Global discussion forum

Panelists

David Chubak, Head of U.S. Retail Banking, Citi

Axel Lehmann, President UBS Switzerland, Member of the Group Executive Board, UBS

Dan Rees, Group Head, Canadian Banking, Scotiabank

Ángel Rivera Congosto, Managing Director, Banco Santander and Senior Executive Vice President Retail & Commercial Banking, Santander Mexico

Moderator

Rob Galaski, Global Managing Partner, Banking & Capital Markets, Deloitte Consulting

COVID-19 has affected businesses worldwide, and the retail banking industry is no exception. In this podcast, four global retail banking leaders discuss lasting certainties and implications of the pandemic on the retail banking market, uncertainties which could shape global retail banking in the medium term, key dimensions of global banks that could be impacted by the rapidly changing landscape, and perspectives on thriving in what will be the new normal.

This report from Deloitte Canada—Retail banking in the age of COVID-19: Scenarios for resilient leaders, introduces four scenarios for how COVID-19 pandemic could accelerate or redirect the global retail banking industry over the next one to three years. Building on several trends already in motion, the scenarios are built on important macro and banking sector uncertainties—those already evident, and others that are potentially plausible based on the severity of the pandemic and government actions.

Retail banking in the age of COVID-19

Read the report to learn how to move beyond responding to the crisis towards recovering in the next one to three years.

In the wake of COVID-19, Deloitte and Salesforce hosted a dialogue among some of the world's best-known scenario thinkers to consider the societal and business impact of the pandemic. The results of this collaboration can be found in The World Remade: Scenarios for Resilient Leaders.

Deloitte United States also released a related paper about their market: Consumer banking remade by COVID-19: Scenarios for resilient leaders

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