The COVID-19 pandemic could prove to be the most serious challenge that financial institutions have faced post the 2008 financial crisis.
The pandemic has brought the entire world to a standstill, specially the financial sector. Banks are facing unprecedented challenges in managing revenue and customer expectations during this turmoil.
Banks are on a constant vigil about the strategy and brand issues that will define their future, as market forces and customer behaviors will potentially change coming out of this crisis.
The following sections will highlight some of the trends that are expected to take shape in the mortgage industry as well as the importance of owning digitalization in the wake of the economic downturn.