At a time when people across the nation are dealing with layoffs, reduced hours and reduced pay - and practicing social distancing to protect their health and well-being - many consumers and businesses are facing new financial challenges and hardships. They are reaching out to their banks and credit unions for guidance and support during these challenging times.
As such, banks and credit unions are experiencing significantly higher call volumes, changes in operating hours and services offered at their branches, and increased requests for financial assistance. Additionally, they are faced with the critical need to support their own employees working from home, and to service users remotely. Many are ramping up operations to ensure their customers and members - as well as their employees - can conduct needed transactions in a safe and secure way. Times have certainly changed and as the world around us continues to evolve, there will be a lasting impact.
An increasing number of consumers and businesses are leaning on the digital channel to manage their financial lives. The time is now for financial institutions to take advantage of their digital banking platform capabilities - when staying connected, providing critical updates and information, and offering financial support is vital.
Here are some impactful ways financial institutions can leverage digital banking capabilities to stay connected and support their users today, during these difficult times - and into the future as legislation evolves, jobs change, and branches reopen.