Republic Journal

Although digital banking offers greater convenience for customers, better rates and at times free overseas transactions, there has been a slow, steady progression by customers over the years, until the realities of the pandemic set-in and shelter-in-place policies became mandatory.

Although, we recently crossed the grim milestone of over 100 lives being lost to the coronavirus at home, we have also seen our second wave of community spread almost flattened over the last few weeks, with the introduction of legislation to wear masks in public, our commitment to sanitizing and social distancing alongside the partial closure of certain sectors. We are a resilient people and we have been able to manage a pandemic that is increasing in intensity internationally.

A great deal of financial planning advice includes a stern admonition to always save ten per cent of one’s income. Saving is an excellent habit to nurture, and can help with short term goals like vacations or the annual back to school supply run.

While online banking isn’t new, the younger and older generations that have flocked to these online options to pay bills, buy groceries or attend virtual concerts, are likely to stick with this new normal.

In the throes of the ongoing COVID-19 pandemic, with a strong focus on economic recovery and promoting sustainable development, more nations and policymakers have begun reopening the conversation on investment banking and how it can help pave the way toward much needed post-pandemic growth. But how?

Banks and financial institutions are the backbone of the modern economy. But, as we have seen through the years, this importance extends beyond the banking basics of simply providing saving and lending services and products.