How financial institutions can prepare for 2021
Since the COVID-19 pandemic began hammering the global economy in early 2020, financial institutions have been at the center of a brewing economic storm. Not only have they been pressed into service by the federal government to help distribute trillions of dollars in stimulus money, financial institutions everywhere are fighting a widespread economic depression, managing a remote workforce, dealing with disgruntled customers, and guarding themselves against an increasingly aggressive and sophisticated network of fraudsters and cybercriminals.
As the pandemic continues to rage, an equally serious epidemic of uncertainty clouds the economic outlook for 2021. No one knows how the pandemic will play out. Will there be an effective coronavirus vaccine or not? Will the economy rebound or not? Will next year bring a new era of continuous economic turmoil and social unrest? Or will we somehow adapt and innovate our way to a brighter, more sustainable future?