Banking’s Tech‑Tide: How the Pandemic Pumped Up Digital Power
In a whirlwind survey of 250 banking bigwigs, Yobota’s latest data shows that investing in tech during COVID isn’t just a safety net—it’s a springboard.
Tech‑Confidence Gets a Boost
‑ 73% of the surveyed decision‑makers now feel their firms can weather the next wave of disruptions, thanks to a heavier tech focus forged in the pandemic’s crucible.
Tech at the Heart of the Business
‑ 76% said technology’s role in their operations has skyrocketed compared to a year ago.
‑ 63% confessed that once‑brittle tech had throttled their ability to serve customers smarter.
‑ 74% credit digital upgrades with lifting the customer experience over the last 12 months.
Pivoting to the New Norm
Four‑in‑five firms (79%) leveraged tech to pivot services to fit the post‑pandemic climate. The big wins?
- 74% boost in strategies for acquiring and keeping customers.
- 76% higher accuracy in customer data—fundamental for better targeting.
Streamlining and Slashing Costs
Yobota found:
- 75% of leaders streamlined admin processes with new tech.
- 65% cut operational costs, freeing up capital for innovation.
CEO Snapshot
Ammar Akhtar, Yobota CEO summed it up:
“The pandemic forced banks to audit their tech stack. The gaps were glaring, but the subsequent investment paid off big—better customer experiences, flexibility, and leaner overheads. We’re seeing real progress in digital transformation over the last year, setting up firms to tackle even bigger challenges. But it’s not just about getting through the crisis; banks need a forward‑looking roadmap to keep tech valuable long after COVID fades. Technology isn’t just a tool—it’s a differentiator for everything in financial services. So let’s keep the digital momentum alive.”
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