Summer will be ending in just a few short weeks and perhaps the craziest, scariest, most uncertain school year of our lifetime will begin, affecting not just school-aged children and their families, but employers, coworkers, friends, relatives, everybody. While the whens and hows are still up in the air, it is for certain that school will resume next month one way or another.
What a whirlwind second quarter we just finished! This time last year (heck, even Q1 2020), we could never had envisioned all the excitement and busyness of these past three months. With COVID-19 reaching pandemic level shortly after the start of Q2, we’ve changed our structures and routines a bit, tried our hand at remote training, seen great milestones accomplished, and created three new products.
The COVID-19 pandemic has radically changed nearly every facet of American day-to-day life to where most citizens do not see our daily routines ever returning to what we once considered “normal.” When we say every facet, we mean every facet. Mental, physical, familial, financial, personal, and professional. A lot of the effects we’ve felt from the pandemic have been less than savory, but this pandemic is also changing some things for the better. Below are just a few life lessons many Americans have learned from this pandemic (so far) regarding banking and finances.
Prior the coronavirus outbreak, there was a growing rate of stores and businesses no longer accepting cash. While this may seem like a natural progression as technology and digital banking grow, this cashless model was actually met with a lot of backlash. Just six months ago in January 2020 (which may feel like years to many of us), New York passed a bill banning businesses from rejecting cash payments nearly unanimously.
Join us for a quick 30-minute webinar to learn how to increase visibility into deposit exceptions on a regional, branch, and individual level and to empower your FSR's or CSR's.
Mark Cuban, Citizens Bank of Edmond and Teslar Software Team Up to
Help All Small Businesses with PPP Forgiveness
Group collaborates to launch free website that simplifies and streamlines PPP forgiveness for small businesses, regardless of lender
Community Banks Manage PPP Loan Forgiveness with Teslar Software
Embedded solution available to streamline and automate loan forgiveness;
helps small businesses calculate their options today
Many organizations have feared a work-from-home model for years, worrying about the risks that come with more distractions, less accountability, and less productivity for employees, but the COVID-19 pandemic has forced many organizations to adopt work-from-home procedures despite their apprehension. However, many have found their fears put at ease—this actually works. Not only do employees have more free time, lending way to better quality of life, and get to work in sweatpants, but they’re doing it with just as much, if not more, productivity. Many predict that working from home is here to stay.
Citizens Bank Partners with Teslar Software to Better Serve its Communities
Bank selects automated workflow and portfolio management tools to improve operations, enhance customer experiences
The U.S. Consumer Confidence Index has dropped by 30 percent since February, from 101 down to 71.8—the lowest it’s been since December 2011. Unemployment is at its highest since the Great Depression, and many families and businesses are already unable to pay their rent or mortgage among other expenses. Many citizens and experts have expressed fear that America might experience another depression. “We have never seen anything like this," says Princeton University professor and economist Alan Blinder regarding the recent number of unemployment claims. “This looks likely to be deep enough to qualify as a depression."