Safety worries and cost savings mean financial services companies are in no hurry to go back to business as usual
In this file photo taken on March 11, 2020 Pedestrians walk by with the towers of the City of London in the background in London on March 11, 2020. Picture: TOLGA AKMEN / AFP
“Now the technology for working from home has been proven, firms are doing a lot of thinking and some of the changes we have seen could be adopted in the longer term,” said Andrew Rogan, director of operational resilience at UK Finance, a banking industry body. In the past, banks made savings by cutting staff and bonuses, but the success of working from home has pointed to other ways to save money via office space, backup sites and technology.
“I don’t think any of us imagined quite how effective it would be working in this way, holding board meetings, holding discussions with multiple participants,” said Norman Blackwell, chair of Lloyds Banking Group. “What we see is a very gentle lifting, which will see people who aren’t comfortable coming in working from home for potentially the next year,” Chamberlain said.
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