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COVID Left Banks Scrambling for Digital Solutions. Now, They Need to Evaluate Those Investments

Apr 28, 2021 / BAI In the News
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In the banking industry, there is little question that COVID-19 forced digital adoption at an unparalleled rate. Years-long timelines for preplanned digital transformations were suddenly condensed into a matter of months — as “shelter in place” mandates forced consumers across the globe to move their financial activities online. And move online they did: A report from Deloitte shows that, by April 2020, 35% of American consumers had increased their usage of online banking tools. Four months later, half of the respondents to a Bank Administration Institute (BAI) survey said they were using digital products more than they did before the pandemic.
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