October 2020 | Nº1

Modellica Newsletter

Our Thoughts

Keys, consequences and challenges of Digital Banking after COVID-19
The COVID-19 seismic wave has caused a profound disruption in all areas and sectors, including banking. In these turbulent times, the sector has gained the confidence of customers by managing the crisis effectively. It has been able to respond to the mandatory measures imposed during the state of alarm by optimising remote services, meeting and implementing customer needs and ensuring efficiency in the provision of its services. The three key areas that financial institutions have followed in order to respond effectively to the current crisis have been: establishing strong liquidity and financing mechanisms, ensuring that the measures reach customers who really need them; underpinning risk management well, solving any security problems and, thirdly, developing compliance mechanisms that continuously assess the bank’s risks and commitments. The pandemic has accelerated the digital trend and forced banks to act differently and anticipate customers’ needs. Artificial Intelligence, Interactive Learning and other practices have helped to implement banking strategies and improve their predictive perspectives and efficiency. Digitalisation is no longer an option but a duty. The secret of the sector’s success and survival lies in resilience and the ability to meet customers’ needs by anticipating risks and effectively managing their decisions. In the new normality, banks must review their short, medium and long-term continuity plans and also ensure integrated management and control in the cyber security, payment, liquidity or credit processes.

What we talk about

The (real) opportunities for the banking industry post-COVID-19

Unlike previous crises, the COVID-19 crisis is not a banking crisis. It’s a crisis of the real economy, and this means that the disruption is somewhat different from previous crashes over the decades. Whilst we shouldn’t be complacent about the possible effects on the banking industry, the predictions of experts point to the banking industry’s particular resilience and the possibility that the future might not be as bleak as we currently fear. This is one of the main conclusions of

Read More »

The (real) opportunities for the banking industry post-COVID-19

Unlike previous crises, the COVID-19 crisis is not a banking crisis. It’s a crisis of the real economy, and this means that the disruption is somewhat different from previous crashes over the decades. Whilst we shouldn’t be complacent about the possible effects on the banking industry, the predictions of experts point to the banking industry’s particular resilience and the possibility that the future might not be as bleak as we currently fear. This is one of the main conclusions of the latest report on global banking from the consultancy firm McKinsey. Far from being overly optimistic, the analysis simply takes

Read More »

The (real) opportunities for the banking industry post-COVID-19

Unlike previous crises, the COVID-19 crisis is not a banking crisis. It’s a crisis of the real economy, and this means that the disruption is somewhat different from previous crashes over the decades. Whilst we shouldn’t be complacent about the possible effects on the banking industry, the predictions of experts point to the banking industry’s particular resilience and the possibility that the future might not be as bleak as we currently fear. This is one of the main conclusions of

Read More »

The (real) opportunities for the banking industry post-COVID-19

Unlike previous crises, the COVID-19 crisis is not a banking crisis. It’s a crisis of the real economy, and this means that the disruption is somewhat different from previous crashes over the decades. Whilst we shouldn’t be complacent about the possible effects on the banking industry, the predictions of experts point to the banking industry’s particular resilience and the possibility that the future might not be as bleak as we currently fear. This is one of the main conclusions of the latest report on global banking from the consultancy firm McKinsey. Far from being overly optimistic, the analysis simply takes

Read More »
Our Events
Conversational Banking: The Next Step in Digitalization (Spanish)
During this webinar the interesting benefits for the Banking industry of having automated response and decision mechanisms, such as chatbots, were discussed. These automated systems allow interaction with the customer in real time, being able to meet the customer’s needs or requests. Including decision parameters such as requirements and minimum returns, these chatbots can offer the most appropriate product taking into account the interests of both the customer and the company.
New Technologies in the 21st Century: The Transformation of the Financial Industry
GDS Modellica held a webinar on July, 9th 2020 on ¨ New Technologies in the 21st Century: The Transformation of the Financial Industry¨ for European financial organizations. Due to the current global crisis at this time more than ever, the importance of an efficient credit risk management is emphasized. This concern has been reflected both in the interest shown by those attending and in the high number of participants.

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