In the SME sector, if banks are not able or willing to provide the necessary credit, webelieveotherplayersmaystepin.Cash-richplatformslikeAmazonhavealready beendippingtheirtoeinthewaterwithrespecttoworkingcapitalandsupplychain credit.Theyhaveanabundanceofthedatamentionedaboveandcouldpotentially see the opportunity to help their customers, in the process strengthening their position in working capital provision. Any large corporation that has an interest in thesurvivalofavibrantSMEsectormayalsobeincentedtoprovideextendedtrade credit and other short-term support to sustain its customers, suppliers,and other ecosystempartners. A data-driven For individual customers, banks might consider partnering with other relevant players in an ecosystem that offers a holistic suite of services. Working with, for approach to example,AgeUKortheAARPintheUS,theycouldtaketheleadinhelpingaddress vulnerable consumers’ financial needs or serve as a utility partner within a larger, more diverse network whose purpose is aligned with that of the bank. In the new credit commercial sector, the right partner may be trade associations or public sector economic development units trying to provide advice to their members on the extension will availability ofcredit. Finally, this crisis is likely to increase the attractiveness of credit facilities that have becritical. inbuilt flexibility and the option to take payment holidays without waiting for action fromthelender.WiththepossibilitythatwewillexperiencewavesofCOVID-19over thenext12to18months,wemayseeconsumersandbusinessesagainfocusing farmoreonpaymentinsurance(despitethePPImis-sellingissuesintheUK)and paymenttermflexibilitybecomingamoreattractiveproductfeature. 13 COVID-19: Open letter to retail and commercial banking CEOs