Value-generating banking: the roadmap (2/2) New Now Take control Next Stabilise through New Accelerate the 1–2 months New efficiency future bank 3–6 months New normal 6+ months In addition to the measures banks have already Establish cost control tower Scale up new propositions (cont.) taken, things to consider are: • Set up capability to identify and monitor cost centres to • Establish a business marketplace leveraging KYB data to Digitise and protect payments assess cost impacts due to COVID-19, e.g. spend on facilitate business connections to draw synergies or travel, marketing and communications scale propositions, e.g. connecting grocers with cafes • Enhance consumer digital payments, e.g. working with Develop new propositions and bakeries based on location to enable home delivery cash-only SMEs to introduce digital payments such as propositions POS terminals, mobile payments, contactless • Launch new propositions / features to help customers • Manage revenue leakage through enhanced detection of survive and operate during the COVID-19 period, e.g.: payment fraud and financial crime e.g. scammers looking • Liquidity management solutions to help SMEs to get personal or financial details in exchange for fake or forecast receivables and payables non-existent COVID-19 tests or treatments • Creative deposit products to encourage savings and Review fees and charges build balance sheet for lending capacity (e.g. pool funds in short-term deposit) • Be sensitive to customers’ potential financial difficulties and proactively manage treatment of penalty fees / Invest in strategic differentiators charges • Focus on faster / better systems and processes as a • Clarify terms and conditions with regards to consumer differentiator to gain market share e.g. facilitating straight- protection offered for prepaid goods and services that through processing of letter-of-credit requests, new draw- can no longer be used, e.g. purchases of events that have down requests, etc. been cancelled, outstanding vouchers or gift cards for businesses that have closed down 17