TECH SUPPLIER Feb 2022 - IDC Survey - Doc # EUR148809022

European Industry Acceleration Survey, 2021-2022: Part 4 — Corporate Banks Prevail in the Pandemic Stress Test Without Tapping Into Public Recovery Funds

By:

Maria Adele Di Comite
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Tom Zink
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Abstract

This IDC Survey analyzes the corporate banking industry based on IDC EMEA's European Industry Acceleration Survey, focusing on COVID-19 and its negative business impact on the bottom line. Corporate banks' financial stability and operational resilience have been key to overcome the pandemic stress test. Corporate banks adopted fallback operating models to ensure business continuity. Thanks to their prompt reaction, most did not need to apply for public recovery funds to ensure survival, instead leveraging public funds to drive business transformation and innovation. This presentation is the fourth out of four of the series European Corporate Banking DX Trends, 2021-2022.

IDC conducted the survey to understand the impact of COVID-19 on the corporate banking business, identify how corporate banks reacted to pandemic restrictions, and examine their plans to emerge stronger from the pandemic, with or without public recovery funds.

The survey, conducted in April 2021, was completed by 51 business leaders from small, midsize, and large corporate banking organizations across major European countries. Respondents were drawn from C-level, IT, and line-of-business functions. Topics covered areas such as COVID-19 boosting the sense of urgency of digital transformation, industry resilience, and lessons learnt to emerge stronger from the pandemic with initiatives geared toward digital transformation, combining new tools and services improvements with digital education of staff.

"Corporate banks are applying for public recovery funding to support forward-looking initiatives and emerge stronger from the pandemic," said Maria Adele Di Comite, IDC Financial Insights. "Beyond improvements on the bottom line, environment-friendly initiatives will benefit the most from public funds, and their impact on the future generation is long-lasting."


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