• Skip to primary navigation
  • Skip to main content
Close
OEE - Home
  • English
    • Français
    • Deutsch
    • 简体中文
    • 繁體中文
SearchSearch
  • Home
  • Sectors
    • Banking & Financial Services
    • Education
    • Healthcare
    • High Tech Outsourcing
    • Insurance & Investment
    • Public Sector
    • Retail
    • Travel and Transport
    • Utilities
  • Services
    • Customer Journey
    • Customer Experience
    • Service Operations
    • Technology Solutions
    • Data and Analytics
    • Organisational Excellence
  • Thinking
    • Latest News
    • Insight
    • Client Stories
  • About
    • Our Values
    • Management Team
    • International Expertise
    • Consulting Excellence
  • Careers
  • Contact
  • Home
  • Our Thinking
  • Banking Bites: Reassessing what’s really important

Banking Bites: Reassessing what’s really important

Reading Time 3 mins

  • twitter Tweet
  • facebook Share
  • linkedin Recommend
  • Share via Email Pin

Jonathan Shawcross, Managing Director of Banking, opens up his first edition of 'Banking Bites', bringing insight and perspectives from across the industry and colleagues at Gobeyond Partners. We’ll be encouraging debate and fresh perspectives as we continue to support leaders and their teams throughout the Coronavirus crisis.

A distinct phasing of response has emerged which we call the ‘crisis curve’ charting the cycles that banks are navigating now, and those that will emerge as the crisis unfolds, encompassing five key phases:

Covid cruve graph - 08 Linkedin MOBILE

Rapid crisis response
This was the initial period where the situation was escalating rapidly, with lockdowns first initiated. The key question for banks were “can I continue to manage my business as usual?”, whether that be opening offices branches, answering the phone and handling urgent customer enquiries.

Take back control
We have seen most organisations over the last month move successfully through this phase, getting on top of a new set of solutions for homeworking, running networks, keeping payments flowing, managing the business, customer queries, and colleagues successfully.

Business as unusual
This is where we see most banks and financial institutions today. While this is clearly a very unusual set of circumstances, organisations are beginning to settling into more of a drumbeat of understanding what it is to run their business through this evolving crisis and ensuring sustainability for the medium term.

Transition to new normal
Banks will begin to transition back to, and inhabit a 'new normal', a phrase, which we've been hearing a lot across the industry. Whatever this end’s up looking like, flexibility and pace will be valuable characteristics.

Crisis futureproofing
For future proofing against further crises that we may see, exploring and deeply understanding why responses to the current crisis felt, and indeed were more painful and difficult than perhaps they could have been will drive development of more robust operating models and bring business continuity planning to the forefront of debate.

Looking ahead to the future – what’s really important?

Interestingly for banks, unlike the last major global financial crisis back in 2008, they certainly won't be the villains of this piece, having played their role as key workers throughout the COVID-19 pandemic. As governments begin to step back and withdraw funding provision, banks will be expected to step in and support economic recovery as it falls back to the private sector, and the banking industry as a whole.

As banks look ahead and plan for the future, conversations with clients, partners and colleagues across our banking practice began to shine some light on some common themes that will play a huge role in how the future unfolds.

Over time, we’ll be exploring these themes in more detail; and how we are seeing and observing others tackle these major issues

1. Re-engaging people
As we have relied very heavily on people throughout the crisis, how do we ensure they are successfully back into different set of environments, and really made that work? This for us, is right at the heart of solving the challenges ahead

2. Moving forward with pace
As the need to evolve is more urgent than before, how are the actions we need to take both accelerated and focused in the right areas?

3. Developing greater agility
This crisis has brought about greater insight into how agile organisations really are. How can we improve the ability to respond to rapid changes alongside levels of high regulation?

4. Thinking differently
There has already been an abundance of different ways of thinking and great innovation during this period. How do organisations really embrace this, and deeply understand their customers and clients?5. Reshaping the business
What are the changes that will be needed a business to adopt and adapt to the new environment in which we all; banks included will find ourselves in?

Share your views

Join us on LinkedIn and share your perspectives, challenge our thinking, and shape the debate, helping  foster something of value to us all.

Close
Would you like to get in touch with us?
Please complete our contact form.

Author

Jonathan Shawcross
Managing Director | Banking

Stay informed. Never miss our email updates.

Our knowledge-led emails are an invaluable source of business information, inspiration and learning.

We'll store this data in accordance with our privacy policy and process for the use intended. We will not share your personal data with any third parties.

Our Thinking

News
Gobeyond Partners Signals Ambitious Growth Plans With The Appointment of Raphael Hegeler

The appointment of Raphael supports Gobeyond’s growth strategy, which will focus on strengthening its CX and customer journey consulting capabilities in existing and new geographies.

Find Out More
News
Gobeyond Partners Shortlisted for Prestigious MCA Awards with First Bus

Gobeyond, a leading CX consulting firm, is delighted to announce their selection as a finalist in this year's Management Consultancies Association (MCA) awards.

Find Out More
Insight
Fraud in the NHS – The hidden risks to your organisation

Pressures on clinical teams across the NHS have never been higher, but it’s not just the pandemic that is to blame.

Find Out More

Stay informed. Never miss our email updates.

We'll store this data in accordance with our privacy policy and process for the use intended. We will not share your personal data with any third parties.

The Future of Service Forum

The Future of Service Forum brings together like-minded organisations from across the service sector. Each is committed to improving operations, creating networking opportunities and providing access to insight and content contributors.

Explore the Forum
Close
Would you like to get in touch with us?
Please complete our contact form.
  • Careers
  • News

info@gobeyondpartners.com

44 Great Marlborough St, Carnaby
London
W1F 7JL

  • LinkedIn
  • Twitter
  • Glassdoor
  • English
  • Français (French)
  • Deutsch (German)
  • 简体中文 (Chinese (Simplified))
  • 繁體中文 (Chinese (Traditional))