TECH BUYER Apr 2020 - IDC Perspective - Doc # EUR246178520

Impact of COVID-19 on the European Banking Industry

By: Martin Stiller, Thomas ZinkResearch Director

Table of Contents

Executive Snapshot

Figure: Executive Snapshot: Impact of COVID-19 on the European Banking Industry

Situation Overview

The Impact of Novel Coronavirus on European Banking and the European Economy

Banks' Stability Crucial to Keep the System Up and Running

The Moment of Truth for the FinTech Ecosystem

Short-Term Work Arrangements That Banks Have Introduced to Assure Business Continuity

Infrastructure Risks

Operational Risks

Employee Risks


Reputational Risks

Credit Risks and Other Business-Related Measures

Advice for the Technology Buyer

The War with Coronavirus Likely to Drive Technological Advancement

The Rise of Digital Wallets

Contactless ATMs and Terminals

Co-Browsing and Remote Assistance

Alternative Biometric Authentication Methods

Figure: Preferred Method of Biometric Authentication

Behavioral Analytics

Figure: Shift from Face-to-Face Interactions to Digital

Governments Advised to Indicate How Restrictions Will Be Lifted

Measures that Banks Should Consider in Partnership with Governments

Direct Loans


Tax Relief

Short-Time Working Arrangements

Learn More

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