Corporate Banks Evolve Their Digitally Enabled Hybrid Workplaces From Resilience to Performance

This IDC Perspective illustrates hybrid work model in the banking industry, highlighting its related opportunities and challenges in this highly regulated industry. The hybrid work model is here to stay. Leading banks were already adopting remote working as part of their digital transformation journey, and the COVID-19 crisis boosted this trend. Remote working and collaborative tools have been key to ensuring financial industry resilience, enabling the banking sector to keep supporting corporates and the economy under adverse circumstances. In designing hybrid work models, banks and their ICT providers must consider the specific challenges of their highly regulated industry and deploy solutions that enable them to comply with industry-specific requirements. A holistic approach is needed to exploit the full potential of the hybrid workplace. This entails the deployment of enabling technologies and a wider perspective into the implications of workforce transformation. "A more strategic approach to the hybrid workplace is needed. Furthermore, a strategic vision with C-level involvement and commitment is key to defining and implementing a well-structured hybrid workplace strategy with a long-lasting impact on banks' profitability and reputation," said Maria Adele Di Comite, research director, IDC Financial Insights. "Now is time to evolve the hybrid workplace from resilience to performance."