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  • Writer's pictureJP Nicols

Banking Industry Pandemic Response 3-20-20

Not a big movement in total numbers today, but we are seeing that some respondents are coming back to update their situation as it changes. With some more state governors encouraging, and others now ordering, people to shelter in place and restrict all but the most essential public movements we expect to see more banks reducing face-to-face interactions.

As of 3:00ET today 31% of back-office employees are working from home, as are 18% of contact center employees. Fifteen percent of respondents reported that all employees were operating as usual, and of that subset 63% had some sort of confirmed or suspected coronavirus impact within their footprint; that includes 51% reporting confirmed cases within their footprint, 8% reporting employee contact with confirmed cases, 3% with suspected employee cases, and 1% with confirmed employee cases.

Some state regulators require formal approval for prolonged branch closures, and some banks are reporting on that as a barrier, while others are citing customer needs as the primary driver.

We continue to advocate that all financial institutions provide needed access to financial services while trying to reduce in-person contact as much as possible to slow the spread of this contagious and in some cases dangerous disease.

We are also thinking ahead to the emerging needs and challenges for customers and the industry as the urgent needs for this crisis response subsides. This too shall pass, but the after-effects will continue for some time and we want to help the industry get out ahead of it as much as possible.

Let us know how we can help.

Interact with the data and add your own by clicking below. You can also click on any individual response to filter and use the timeline slider to see changes over time.

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