In the United Kingdom, COVID-19’s impact on businesses has been tempered by a number of timely government loan schemes. That’s the good news. The bad news is that they will run their course, and the reeling in of the financial lifeline is guaranteed to cause a liquidity shortfall. What steps must be taken now to mitigate the inevitable blow to the economy that could snowball into yet another financial crisis?
The word revolution isn’t used lightly, so when we are told that we are in the midst of Industrial Revolution 4.0, we can expect to see major changes—especially in that most fundamental of industries, banking. Providing guidance to their 33,000 strong membership, in the midst of the upheaval, is the UK’s Chartered Banker Institute, which through multiple avenues is preparing bank professionals, current and future, to serve their customers well during the transformation.
The stewardship responsibility of today’s bank has become more complicated in the light of climate change. Not only does a bank need to be cognizant of its responsibility to safeguard customer finances but also the future of the planet on which we all live. Green finance is an ever more significant influence on the decisions made by bankers determined to reconnect with the needs of society in more ways than just financial.