Pandemic hastens digital innovations at banks

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Pandemic hastens digital innovations at banks theSun theSundaily covid19 pandemic banking digital digitalisation.innovation

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: The Covid-19 pandemic has forced the banking sector to innovate towards digitalisation.

“Through the use of online platforms, banks are also continuously engaging with their customers to offer innovative customer experiences that provide ease of use and convenience 24/7.” As more people adapt to online banking and transactions daily, ABM advises the public to remain vigilant and not divulge personal and banking details to unknown or unverified parties.

It said customers had become more accustomed to performing banking transactions online, and as a result, this propelled the growth in digital banking and brought the industry’s digital capabilities to the forefront. “The pandemic has accelerated digital adoption, leading to rapid growth in day-to-day online transactions, in addition to cashless payment methods such as credit and debit cards and QR payments,” it said.

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