Banking in a pandemic has thrown up several unexpected challenges that banks have sought to overcome. Business operations across the world are dependent on each aspect of international markets working well, and the implementation of lockdowns and slowing economies have posed a series of challenges that required quick and nimble action.
A perhaps unsurprising, but nevertheless important, change brought about by Covid-19 is the move towards greater use of digital platforms. It is interesting to see how this breaks down, as treasurers and bankers have found themselves conducting international trade deals from their homes. An innovation mentioned time and again by this year’s participants in the Transaction Banking Awards is the increased use of e-signatures, as vital documentation could no longer be signed in person.
