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Welcome to this new sharing tool!

Please share your experience with your peers from around the world, on the measures you have taken to safeguard your employees, customers and business.

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UK banks are carefully managing the number of customers visiting branches in order to maintain social distancing - many with hand sanitizers.

Essential to protect staff ...............customers appreciate their concern

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Despite the low level of social distancing, Japan is attracting worldwide attention because of the relatively small number of infected people. Some says it is because of the low number of testing, but the death toll is as low as 42 as of March 24.

Is it because Japanese

・Do not shake hands, kiss or hug?

・Eat a lot of fermented foods?

・Do not hesitate to wear a mask in the public?

・Love cleanliness?

Those may not completely explain the mystery and we may be just in the ”calm before the outbreak”? 

I’ll keep you posted.

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In the past 3 weeks we saw social distancing happening in some Asian countries as Myanmar and some companies ruling distancing practice. I was supposed to travel with some bank representatives to one of my client site. When I met the bank in their meeting room on a social distancing type 1.8 m wide table it was not a problem at all. But when we discussed about traveling to the client site the bankers asked about my arrival date in Myanmar and as it was less than 14 days, per company rule they had not the right to be in a closed confined space (i.e. a car in that case) with someone coming from abroad. I didn’t and as the bank team went to the site I joined on a visio.

The country just declared its two first cases from 2 Burmese nationals returning respectively from the US and Europe, and started to implement the newly adopted quarantine measures to any international travelers independently of citizenship, to prevent further cases.

A key lesson I learnt there is that preventing the COVID-19 with rules about the way you interact with others limits the virus from spreading and enables some business continuity. In a same way  you may undergo to a one to one business lunch is restaurant offering at least 1.5 m between clients and tables accommodating the social distance between you qnd your guest.

Social distancing will certainly remain after the required lockdown period  in countries where the disease spread too much, but will not impact negatively the way we manage our relationships.

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Every day it can feel like events are moving at lightning-speed. A new country shuts down. Travel banned. Lockdown extended. For much of the world, this will be the new normal for some period of time. For how long? Who knows? Italy still can’t quite smash their curve so they have extended their lockdown. France will shortly follow suit. The UK government has said anywhere from 12 weeks up to 6 months of disruption. America is supposedly going to be open and raring to go on Easter Sunday but that’s simply not going to happen. 2+ billion people are confined to their homes with India soon to join. Normal service will not be resumed any time soon.

For banks, what is most important during these time is to understand the supportive and critical role that they must play. This was not a crisis that originated in the financial sector (like 08-09). Banks in both Europe and the US are well-capitalized and have healthy balance sheets. Now it is a matter of how banks put their assets to use in propping up other companies and individuals while making sure they themselves stay stable during this crisis. SMEs and individuals need as much leniency as possible and to the extent that they can, banks must provide the necessary support.

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Posted (edited)

As you know, one of Efma's service is connect our members to learn from others. Today we organised a call between SIBS in Portugal and BKM inTurkey. They have similar business. They were talking about some measures taken to increase users’ safety of using “physical” payment methods to prevent from COVID-19, to avoid physical touch, to reduce visits to branches and ATM’s,..

·        In Portugal they use national wallet MB WAY to make purchases in stores, through QR Code and NFC technologies, as an alternative to cards. Now this is very useful because you reduce to the maximum the physical contact. Besides MB WAY, they are also promoting contactless card transactions to avoid at maximum physical contact with POS and gonna be using press to inform citizens and get this increase of contactless card transactions.

·        In Turkey, contactless card payments are also very popular. These days they have increased up to the double the limit of the use of the card without introducing your PIN. Also, the limit of the total amount for withdrawals in ATM’s per day has been increased. Additionally, Central Turkish bank has asked all the banks to disinfect twice per week all ATM’s and daily the ones near hospitals.

Thanks to both parts for connecting, sharing and learning through Efma

Edited by Silvia Cunill Calvet
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22 hours ago, Silvia Cunill Calvet said:

As you know, one of EFMA’s service is connect our members to learn from others. Today we organised a call between SIBS in Portugal and BKM inTurkey. They have similar business. They were talking about some measures taken to increase users’ safety of using “physical” payment methods to prevent from COVID-19, to avoid physical touch, to reduce visits to branches and ATM’s,..

·        In Portugal they use national wallet MB WAY to make purchases in stores, through QR Code and NFC technologies, as an alternative to cards. Now this is very useful because you reduce to the maximum the physical contact. Besides MB WAY, they are also promoting contactless card transactions to avoid at maximum physical contact with POS and gonna be using press to inform citizens and get this increase of contactless card transactions.

·        In Turkey, contactless card payments are also very popular. These days they have increased up to the double the limit of the use of the card without introducing your PIN. Also, the limit of the total amount for withdrawals in ATM’s per day has been increased. Additionally, Central Turkish bank has asked all the banks to disinfect twice per week all ATM’s and daily the ones near hospitals.

Thanks to both parts for connecting, sharing and learning through EFMA

Also  in Turkey many e-commerce platforms like iyzico or food delivery aggregators like  yemeksepeti are trying to help their merchants by lowering the fees, shorter reconcilation days. 

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7 hours ago, Silvia Cunill Calvet said:

As you know, one of EFMA’s service is connect our members to learn from others. Today we organised a call between SIBS in Portugal and BKM inTurkey. They have similar business. They were talking about some measures taken to increase users’ safety of using “physical” payment methods to prevent from COVID-19, to avoid physical touch, to reduce visits to branches and ATM’s,..

·        In Portugal they use national wallet MB WAY to make purchases in stores, through QR Code and NFC technologies, as an alternative to cards. Now this is very useful because you reduce to the maximum the physical contact. Besides MB WAY, they are also promoting contactless card transactions to avoid at maximum physical contact with POS and gonna be using press to inform citizens and get this increase of contactless card transactions.

·        In Turkey, contactless card payments are also very popular. These days they have increased up to the double the limit of the use of the card without introducing your PIN. Also, the limit of the total amount for withdrawals in ATM’s per day has been increased. Additionally, Central Turkish bank has asked all the banks to disinfect twice per week all ATM’s and daily the ones near hospitals.

Thanks to both parts for connecting, sharing and learning through 

7 hours ago, Silvia Cunill Calvet said:

As you know, one of EFMA’s service is connect our members to learn from others. Today we organised a call between SIBS in Portugal and BKM inTurkey. They have similar business. They were talking about some measures taken to increase users’ safety of using “physical” payment methods to prevent from COVID-19, to avoid physical touch, to reduce visits to branches and ATM’s,..

·        In Portugal they use national wallet MB WAY to make purchases in stores, through QR Code and NFC technologies, as an alternative to cards. Now this is very useful because you reduce to the maximum the physical contact. Besides MB WAY, they are also promoting contactless card transactions to avoid at maximum physical contact with POS and gonna be using press to inform citizens and get this increase of contactless card transactions.

·        In Turkey, contactless card payments are also very popular. These days they have increased up to the double the limit of the use of the card without introducing your PIN. Also, the limit of the total amount for withdrawals in ATM’s per day has been increased. Additionally, Central Turkish bank has asked all the banks to disinfect twice per week all ATM’s and daily the ones near hospitals.

Thanks to both parts for connecting, sharing and learning through EFMA

@Silvia Cunill CalvetGreat exaples of how technology can nurture businesses! SIBS and BKM are notable expamples.

Actually, in those difficult times, I would like to share the practices we are seeing here in Bulgaria to be working well.NB/I am in conflict of interest, but believe that any advice that might be helpful should be shared/

Over 95% of the Banks in Bulgaria, are using a solution /Evrotrust/ that allows complete remote servicing of new-to-bank and existing clients . The banks, together with this solution can keep all compliance policies in tact and offer fully remote product offering of any product. The client uses it through a mobile application, while the bank can integrate it into their backend, or even faster – use it manually, through a web-portal /For latter one of the Bulgarian banks, operates with more than 500 employees through these web-portals/.

The solution allows numerous services:

  • Digital Identification
  • e-Signatures
  • e-Timestamping
  • e-Delivery
  • e-Preservation

and more (all compliant by eIDAS Regulation for the EU, AML/KYC and many other regulations)

Practical example:

An existing client is scheduled to renew credit card contract – remotely.

1) The banking employee calls the client and asks if she is interested to continue using the product. 

2) Upon agreement, the banking employee logs into a secure web-portal where by he send the client a message with app-link for download

3) The banking employee uploads the completed contracts and declaration in the web-portal and sends them for a signing by the bank

4) Upon (automated) bank signing, the documents together with identification request go to the client

5) In the meantime the client, downloads the application and goes through a 3min registration process (scans ID & face)

6) Upon completion of the registration , the documents and identification requests are waiting the client

7) When her approves signing and identification (by clicking a button in the app), the solution (Evrotrust) signs remotely and sends Identification data

8) The banking employee, accesses all documents and identification via the web-portal, where he can download them and archive in the client dossier;

Many other provides like MNOs and Governments are also relying on remote services. I can share more best practices if you are interested.

Disclaimer – At the time of writing this I am the acting CEO of Evrotrust.

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Sydney Australia feels a totally different place.  Social distancing rules are now well in operation and tightening, with most people working from home, public transport use seemingly cut in half, domestic travel limited to essential only and everyone getting re-acquainted with home cooked recipes!  Keeping yourself fit and strong in this environment is a challenge with no gyms available and social interaction limited to essentially virtual.  Competing with your partner for home office desk space and booking quiet times for video conferencing is another challenge !  Telco’s have risen to the task by expanding bandwidths and allowing access to free data.  Lenders have given SMEs and home mortgage holders up to 6 months relief by deferring loan repayments.  Bad debts for consumer credit will obviously be a major looming problem. Already a high digital payment environment, cash has been spurned by retailers and replaced with almost 100% contactless. The economic costs for the country are being sized, but the social costs will emerge over a much longer period and could prove formidable. On the upside, there is more common purpose and shared experiences evident.

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I have an idea like "pay now dine later". We reverse the loyalty cards that stamp the get the get a free coffe or meal to support to the places we love to dine. mechanism will work advance payments now for lets say price of 5 coffe and get one free but consume them when the pandemic is over. This way we can support the local business and their employees. Maybe banks and fintechs can work on this idea. 

colorful-loyalty-card-template_23-2147867686.jpg

Edited by Gorkem Cocketin
typo
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On 3/26/2020 at 5:26 AM, George Beatty said:

Sydney Australia feels a totally different place.  Social distancing rules are now well in operation and tightening, with most people working from home, public transport use seemingly cut in half, domestic travel limited to essential only and everyone getting re-acquainted with home cooked recipes!  Keeping yourself fit and strong in this environment is a challenge with no gyms available and social interaction limited to essentially virtual.  Competing with your partner for home office desk space and booking quiet times for video conferencing is another challenge !  Telco’s have risen to the task by expanding bandwidths and allowing access to free data.  Lenders have given SMEs and home mortgage holders up to 6 months relief by deferring loan repayments.  Bad debts for consumer credit will obviously be a major looming problem. Already a high digital payment environment, cash has been spurned by retailers and replaced with almost 100% contactless. The economic costs for the country are being sized, but the social costs will emerge over a much longer period and could prove formidable. On the upside, there is more common purpose and shared experiences evident.

George, interesting info. How do banks treat financially speaking the 6 month loan relief?

 

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Get involved in our new online councils facilitating the urgent discussions in the context of the new COVID-19 crisis – exceptionally opened to all FS institutions worldwide.

The Digital Channels eCouncil, scheduled on Tuesday 31 March at 11am CET, will focus on how financial institutions will continue to operate and serve their customers:

         Introduction

         How do banks continue to operate?

o   HR matters

o   Ensure resilient operations: teams and organisation

         Serving the Customer (pov Digital channels)

o   Engage customers through ad-hoc communication; more digital marketing campaigns

o   Continuity

o   New features (contract, on-boarding, identification, quick-wins, …)

o   Support human assisted channels (branches, call centres, …)

o   Support (remote) relationship managers

         Conclusion

o   Topics next e-Councils

o   Frequency

o   Stay tuned : Covid-19 Efma forum on www.efma.com

 

Looking forward exchanging with peers.

To yourself and your family and friends : Take care and be safe

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On 3/23/2020 at 8:15 PM, Efma said:

Welcome to this new sharing tool!

Please share your experience with your peers from around the world, on the measures you have taken to safeguard your employees, customers and business.

Sharing my thoughts as a representative of my country India and company ePaisa . Today, every country is fighting against COVID-19, with a severe impact on citizens' health and the global economy. Billions of dollars are being invested by each country to manage this pandemic and bring back stability. As the outbreak was unexpected, extreme measures were taken immediately. Like all other companies (We) ePaisa Services Private Limited, an India based Point of solution service provider too has taken immediate action to curb the further spread. We are a cloud-based Point of Sale service provider so our customers are the retail shop owners. We are helping them to monitor & manage the business remotely on a realtime basis. Understanding the current crises our retailer can manage stocks, keep track of products on a daily basis thus making basic essential goods available to the population around. Due to cloud-infrastructure, our retailer can operate his Business as usual even in such disastrous conditions and maintain social distancing through the digital bill and digital payment option. As an organization, it is our utmost duty to take care of both our customers and employees. Hence we implemented work from home policy much before the Government of India called for Locked down. With prevention and precautions, we will fight it back

ep_feature_presentation_ver1_19_sep_19_mum_720.png

Edited by Pravinkumar Bhandari

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As Avi mentioned below, "The Coronavirus pandemic has changed all of our worlds, and not just in the short-term".

Travel, especially international travel, will look very different in the next months and we will need to adapt to this new situation. Travellers will, more than never, look for more protections and credit cards (plastic, metal or digital) will continue to play a big role in offering products and services travellers are expecting. We are already thinking, at AXA, how our products and services can adapt to this new situation. Why paying a credit card including Travel Insurance if I cannot Travel in near future? Can the price reflects where/how I will be/not be able to travel during the next months/years? Will my Travel Insurance cover me for what may happen to me during my trip due to this new Covid-19 situation?

Happy to share with you all our thoughts. You will find below an interesting article showing what may be different for traveller in a very near future. True or science-fiction, I don't know but it will not be the same as before, this is for sure!

#StayHome

Erick Morazin

Senior Vice-President Global Travel

AXA Partners

Mobile +44 7971 565 384

 

Below article by Avi Meir, TravelPerk Co-founder & CEO

The Coronavirus pandemic has changed all of our worlds, and not just in the short-term. Outside of healthcare—where heroes dressed in gowns are battling on the front lines—few industries have been hit like travel. In my own company, bookings are down by over 95%, nations have been ordered to stay at home, airlines have gone bankrupt, travel companies are laying off massive amounts of workers, and hotels are now hospitals. When things do start to return to “normal”, travel, especially international travel, will look very different. Here are the top changes I see coming.

1. The queue at immigration will be longer than ever before

We’re already seeing with China, Singapore, and South Korea, countries that feel like they are on top of their outbreaks, that the biggest worry now is new infections coming from outside. Korea is ordering all persons entering from US and Europe to isolate for two weeks, even if they test negative for COVID-19. Those without a permanent residence are being sent directly to an isolation ward. Manufacturers of heat cameras are seeing a spike in demand. Even when lockdowns in Europe are over and we start to travel again, countries will test at the border. If you thought the line at JFK immigration control was torturous before, now consider what it’ll be like as you line up, take a swab test, and wait for the results. 

2. You’ll need more than a passport

Some countries will not even take the chance of testing at the border. Especially if you’re coming from an outbreak hotspot. Entrance will be refused unless you have a certificate of immunity due to the fact that you’ve recovered from an infection or because you’ve been vaccinated (once there’s vaccines available). Wristbands with barcodes like those in the movie Contagion are a very real prospect. 


Certainly in the short-term, travel will become more defined by purpose. Any business travel will need to be strictly validated as an economic activity, with companies tightening the numbers of employees who travel for them. Countries will likely only open their borders where there is merit and it’s safe to let travelers through. This may mean temporary visas and more documentation that you’ll need to take with you when traveling. 

3. Travel will have different (expensive) seasons

A very influential paper from Imperial College London speculates that governments will need to turn lockdown measures on and off in order to keep demands on healthcare systems at a manageable level. This means there will be windows of opportunity to travel that last only weeks or even days. Even with airlines desperate to get airborne again, seats will be limited and we could see dramatic increases in pricing during those windows.

4. Recovery will be uneven

We’re seeing already that the factors influencing this pandemic are numerous. Strictness and timing of lockdown measures, robustness of healthcare systems, the weather, luck, and other factors are all at work. Meaning some countries and regions will recover first. We will see corridors of recovery open back up one by one. 

How this will look exactly is difficult to predict. For example, Italy is days ahead of other European countries when it comes to the extent of its outbreak. Might this mean it’s amongst the first to reopen its doors, like China? Or will the depth of the nightmare Italy is dealing with mean that they are more reluctant to let foreigners in? 

5. You’ll pack differently

Seen the TikTok video of a man taking out a bag of wet-wipes and thoroughly wiping down his table and seat before sitting down for take off? Well, it could be something you start to see in the flesh. Even if it’s not to that comedic extent, we’re being directed to wash our hands, and the only way to do that when on the move is with hand sanitizer. We may well see the relaxing of liquid carry-on restrictions as travelers want to take more than 100ml, especially on long-haul flights.

Along with hand sanitizer travel packs, it’s a pretty easy prediction to make that a lot more people will travel with masks. In the same way that companies like Away have made luxury, fashionable travel baggage, we will most likely see “desirable” travel masks worn by Instagram influencers. 

6. You’ll tick that little box every time

We’re all very used to airplane bookings coming with tens of add-ons once we’ve chosen our flight. Let’s be honest, most of us skip past speedy boarding, extra baggage, car-rental, and even seat selection. One box that we won’t be skipping past as much is the one asking us if we want to insure the flight. Be careful though, often this “insurance” doesn’t cover you for many things, including the outbreak of a pandemic. Either airline providers or insurance companies are going to have to change to accomodate our new reality.

At TravelPerk, we saw the need for flexibility even before the current crisis. It’s why we created something different and better than insurance called FlexiPerk, allowing you to cancel a trip for any reason, up to a couple of hours before take-off. We’ve seen massive demand for FlexiPerk since we launched it, and this demand has increased dramatically since the beginning of the Corona outbreak.

7. Society won’t like you when you’re sick

Even those who have recovered from COVID-19, and have built up immunity (if the virus doesn’t mutate too much) won’t want to travel with a cold. The current situation and the conviction with which the world is adopting social distancing will make it socially unacceptable to travel with a cold or any symptoms. The looks you will get if you cough or sneeze at an airport or on a plane will be scathing. I predict that social stigma will put a lot of people off, resulting in the potential for more no-shows on travel days (once prices are stable). 

8. You’ll take the train before the plane

Domestic travel will recover first (there’s no border control) and for most countries that means taking a train. Not only will we be able to get back on tracks (ha, a pun) first, we’ll also be more secure about it. Trains are less crowded, have windows that open, and also are much more environmentally friendly. Once the lockdowns we see in Europe now are lifted, I predict people will rush to take a train, just because they can. 

9. Air quality will be an advertised feature

Any idea what grade air filter Lufthansa uses on their flights? How about British Airways? Korean Air? Which Airbus model has the cleanest air? Do Boeing planes have fewer microbes in the air? No idea? Well, you may not know now, but once we’re flying again, airlines will start boasting about their filtration systems. Some have already started emailing customers about their current systems in a bid to stop people canceling. By the end of the year, it’ll be a question many people will be asking—how safe is the air onboard?

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