Banks and all businesses are hunkering down to safely and soundly keep operating in light of the COVID-19 pandemic. But many small and mid-sized businesses are particularly vulnerable. Banks are seeing a huge ramp-up of requests from them for help in staying afloat and cashflow positive. At the same time, many banks are working to stabilize their own operations with more liquid workforces and robust digital channels to address the demand. Given the volatile impact of the crisis, there is no time to wait.
Four key ways to manage now
Accenture is supporting commercial banks in responding to the call, addressing operational capacity and readiness challenges to quickly provide the credit advice and solutions their customers need today—without taking on undue risks. We offer guidance on what commercial banks can do now and next across four key operational areas that are demanding their urgent attention.
Coronavirus & commercial banking: emerge stronger
Surviving through and thriving after the health crisis will be a lengthy journey. We believe good can—and will—come out of it for those taking right action, right now. Hopefully, this bit of insight helps you to quickly and wisely think about and plan your bank’s immediate and next steps—the swift support you provide to your small and mid-sized business customers can go a long way to strengthening these relationships. We are here to help in whatever business capacity you may need to emerge stronger.