Assessing the post COVID-19 banking industry
Banks around the world are being forced to reassess traditional products, strategies and business models.
COVID-19
Background
The COVID-19 coronavirus pandemic has triggered the biggest global financial crisis in over a decade. In the financial services world, it has caused regulatory deadlines to be pushed back, while the…
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COVID-19 forces a historic surge in corporate tech investment
Companies spent around US$15bn extra a week on technology during the pandemic’s first wave, but the huge surge in IT spend isn’t sustainable.
Australian corporates pin survival on disruptive technology
As KPMG and HFS research shows accelerating digital transformation, the flash CBA Purchasing Managers’ Index reveals business activity has regressed.
Oil prices and COVID-19 blamed as ABN Amro retreats to core business
The bank has discontinued all trade and commodity finance activities following a €5m net loss in Q2 2020.
The slow recovery of US business spend sentiment
The Coupa Business Spend Index Q3 outlook shows early signs of business resilience amid economic downturn.
ICC Trade Register – market trends in trade finance from COVID-19 and beyond
by David Bischof, Deputy Director, Finance for Development, International Chamber of Commerce
The ICC Trade Register shows that that trade finance products present banks with exceptionally low levels of credit risk
UK businesses battered by COVID-19
Two new reports reveal that UK companies have felt a stronger impact from COVID-19 than companies globally.
CFOs anticipate a slow recovery as COVID-19 weighs on risk appetite
Deloitte's latest CFO Survey finds two-thirds expect capex to decrease in the next three years due to the COVID-19 pandemic or Brexit.
FTSE 350 companies issue record levels of profit warnings
33% of the UK’s listed companies issued a profit warning in the first half of 2020, according to an EY report.
Asian corporates prioritise operational agility and flexibility in post COVID-19 world
A Standard Chartered survey finds 70% of mid-size firms prioritise operations on the road to recovery.
COVID-19 has companies turning to bank deposits
The 2020 AFP Liquidity Survey finds financial professionals unsurprisingly prioritising safety as they brace for uncertain times ahead.
Businesses divided on implications of COVID-19 crisis for company ethics
90% believe that disruption, as a result of COVID-19, poses a risk to ethical business conduct.
Extent of UK COVID-19 business support revealed
Through schemes such as CCFF and CBILS, lenders have pumped billions of pounds into UK businesses.
CFOs optimistic on safety as lockdowns lift
As work sites slowly start to reopen, a PwC survey finds CFOs optimistic they can keep customers and employees safe.
Hardest hit sectors revealed, as German stimulus package announced
Real estate, hospitality and ICT are the sectors hardest hit by late payment in the UK.
China’s SMEs facing cash flow problems
Research from Ping An highlights the prolonged effect the COVID-19 pandemic is having on company finances.
Mastercard initiative to inform business and government economic response efforts
The firm's Recovery Insights tools and research aims to provide data analysis to help companies and governments bounce back from COVID-19.
ECB sounds COVID-19 financial stability warning
The pandemic has greatly amplified existing vulnerabilities of the financial sector, corporates and sovereigns.
Fitch makes further economic forecast cuts, but global recession bottoming out
The ratings agency believes the slump in global economic activity is close to reaching its trough.
COVID-19 and the impact on digital payments
Two new reports consider the effect that the pandemic is having on cash and payments behaviour.
Can the pandemic be a catalyst for global trade digitisation?
Temporary concessions to digital trade instruments during the pandemic offer a tantalising glimpse at what could be.
Early impact of COVID-19 on European banks revealed
Deutsche Bank research shows the European banking sector suffered mild revenue and cost losses, but loan loss provisions spiked.
Payments Update: Rows and new technologies drive the industry forward
Payment card rows continue; new technologies and processes are used to fight COVID-19
COVID-19 rapidly reshaping banking and payments behaviours
New data from FIS shows 45% of Americans have changed the way they interact with their banks since the coronavirus outbreak.
COVID-19 links
Fitch: Coronavirus Impact Research Highlights
CTMcast
CTMcast – 1 October 2020: Goldman Sachs transaction banking; improving global services; cash flow forecasting; corporate treasury outsourcing
Jack and Ben review the key posts from the last two weeks on CTMfile