When the world went digital, so did finance. Unlike many industries, finance had a fairly easy transition from in-person to virtual life. That said, when you consider how common things like virtual banking and virtual bill pay were even before the pandemic, it’s hardly a mystery why. But, does this current success predict a smooth future?
While we don’t currently know, there are a few things we can look at to take a guess. One point to consider is the stability (or lack thereof) of the overall economy. Though many financial institutions quickly jumped to virtual services, will the rest of the workforce adjust as easily? And what does that mean for those that don’t?
Another factor is the multitude of uncertainties surrounding the pandemic. We aren’t sure when the first vaccine will be ready for use, or even how we will adjust back to our regular lives. The pandemic has highlighted the flaws in insurance’s current design and made fixing them an urgent priority. And, with so many businesses’ futures up in the air, long-term planning for lenders is difficult at best.
What will the upcoming demand for loans look like? How will policy change to suit it? And how will this fit in with the churning seas of the pandemic? Consider talking with the experts to develop a customized plan for your lending services.
CEO of CloudMyBiz Salesforce CRM consulting services with a deep knowledge in the lending industry. Taking keen interest in the project management side of operations, playing a vital role in the 31% YOY company growth. Strategic leader, mastering the ability to problem solve at every level of the business, providing effective solutions for clients.