South African banks face a battle against Covid-19 fallout

Victor Mupunga, Research Analyst At Old Mutual Wealth Private Client Securities The fallout from the Covid-19 pandemic will see the battle of the banks intensify, as both legacy and challenger financial institutions race to use tech innovation to gain a competitive advantage in 2020/2021, says Victor Mupunga, research analyst at Old Mutual Wealth Private Client Securities He said that to some extent, history may be repeating itself, as the financial pressure exerted by the pandemic forces bank management teams to pursue cost discipline while attempting to meet ever-expanding customer expectations.