The depth and breadth of the COVID-19 pandemic has been unprecedented. Its impact is forcing banks and their corporate customers, both in the Asia, as well as worldwide, to come to terms with a new reality in the workplace. Alongside the shift towards remote working, the uncertainties and market turbulence triggered by the outbreak have demanded a greater focus on realigning current priorities to future roadmaps.

However, the pandemic has not been kind to either the banks or their clients, with growth seeming to be tepid at best. During such times, banks, while working on stabilizing their own operations either by adjusting their workforce or by deploying digital-first services, are witnessing a huge increase in requests from various industries, all seeking to ensure business continuity stabilizes through generating the necessary financing. This has further come at a time when the government has made policy announcements, encouraging banks to provide more credit to SMEs and other large corporations. To be able to service this new reality, banks are revisiting their services to ensure that they provide a future-proofed competitive offering and service.