Banking sector audit
The banking industry is currently in the eye of the storm, bearing the weight of its shareholders, employees, and customers while allowing government stimulus packages to flow freely.
Banking institutions have had to alter their operations as the epidemic continues to test their resilience, current frameworks, and systems. The flexibility of their operating models depends on the effectiveness and success of their response. Beyond agility, however, redesigning the MENA banking operating model along the “digital fault line” – the organization’s level of digital adoption and maturity – will be the defining aspect of an effective response.
To thrive in the years ahead and beyond COVID-19, institutions must fully embrace digital, which will allow them to be more adaptable and robust to future shocks. The MENA banks’ trajectory will be defined by their response to the crisis, distinguishing the visionaries from the following.