According to Becker, demand has increased for improving the overall efficiency of workflow and support systems due to the pandemic. Of the firms surveyed in Broadridge’s Pulse Survey, 32% placed increased emphasis on a FinTech service provider’s ability to support business continuity, failover and redundancy procedures, and 31% emphasised on the ability of the FinTech firm to provide a continuous service without outages.
Covid-19 has forced companies to evolve with the times, particularly for the finance industry. According to a survey by the World Economic Forum, management, business and finance sector workers have the highest level of telework access in the US, with almost a quarter of all workers now operating from their homes as of March 2020. With previously sceptical employers increasingly coming to grips with the need to implement flexible working arrangements, demand for online access solutions have begun to increase.
“Providing a seamless interface between regular office and remote business operations has become mission-critical to keep the financial circuitry of the world functioning,” says David Becker, APAC CEO of NYSE-listed FinTech firm Broadridge. He reports that an increasing number of banks in the Asia Pacific are looking for business continuity plans (BCPs) and work-from-home (WFH) solutions to ensure that their businesses can continue during lockdowns. In the “new normal”, such policies are no longer just “a nice to have”.
