TECH SUPPLIER Apr 2020 - IDC Survey - Doc # US46204220

IDC Survey: Understanding the Retail Banking Customers' Concerns and Needs in the Wake of COVID-19

By: Marc DeCastroResearch Director, Consumer Banking

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Abstract

This IDC Survey presents the key findings from IDC Insights' March 2020 Cross-Industry Consumer Response to COVID-19 Survey on how consumers feel that their banking needs may change during the pandemic. Other industries covered in this survey include retail, travel, and healthcare.

"The banking industry has been deemed essential and continues to operate and provide critical support to consumers and industries wrestling with the unprecedented effect of this extended shutdown," stated Marc DeCastro, research director, IDC Financial Insights. "The industries investment in digital channels over the past decade has allowed most to still conduct routine banking transactions and applications using their mobile, connected, and computer devices. However, the unexpected increases in government-led credit initiatives, large amounts of calls to contact centers operating at decreased capacity, and a surge in applications for mortgage refinances and other credit instruments have demonstrated that transformative efforts need to continue beyond the user experience. The industry is now faced with a backlog of requests requiring human intervention, and this may lead to delays in helping individuals and organizations during the crucial weeks and months ahead."


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