Deloitte report highlights digital efforts of financial institutions this year

Deloitte has released its Digital Banking Maturity 2020 report. This is the 4th edition of the report, which is the largest global benchmarking effort of digital retail banking channels. It provides a comprehensive outside-in assessment of 318 financial institutions from 39 countries, analyzing their digital channels and discussing likely future developments.

This year, the report highlights how the COVID-19 pandemic has fast-tracked the development and implementation of digital channels. For example: 60% of financial institutions have closed or shortened their public hours, and 23% have introduced digital identification and verification methods. Moreover, the majority of financial institutions have implemented or are implementing fully-digital processes such as online account opening. To read the report in full, click here.