In the past year, banking and financial services (BFS) organizations in the EU faced a twin blow – the pandemic and the Brexit. Needless to say, the impact of both of these events has reverberated across industries. The pandemic has driven a paradigm shift in BFS operations, such as remote and hybrid working models, amplified digitization efforts, pivot towards cloud computing, and more – and these changes are likely to stay even after the pandemic is over and its impact recedes. Brexit, however, has resulted in a lot of uncertainty for this sector – from passporting being discontinued to restructuring business models and more.
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