COVID-19 Has Forced More Than Three-Quarters of Banks to Change Their Future Banking Strategy

LONDON–(BUSINESS WIRE)–Oct 13, 2020–

Marqeta, the global modern card issuing platform, today released a report that examines how banks intend to change their strategies in response to the COVID-19 pandemic. According to the findings, COVID-19 has had a significant impact on almost all (96%) European banks, with over three-quarters (78%) planning to change their future banking strategy to adapt to changes in consumer behaviour, such as the accelerated adoption of digital banking services and cashless payments.

The study of 200 banking executives found that, as a result of growing demand for digital services, 80% of banks have accelerated their plans to digitally transform. Banks also predicted that digital transformation projects will need to be delivered in two-thirds (69%) of the time, with 89% saying that the COVID-19 pandemic has drastically increased the speed of change in banking from years to months. The study also found that:

  • Three quarters (75%) of
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Europe’s largest tech event forced online by the pandemic

Europe’s largest technology conference will be held entirely online this year, as the coronavirus pandemic forces scores of major events to go digital.



LISBON, PORTUGAL - 2019/11/07: Portugal's President Marcelo Rebelo de Sousa speaks during the closing ceremony of the annual Web Summit technology conference in Lisbon. (Photo by Henrique Casinhas/SOPA Images/LightRocket via Getty Images)


© Henrique Casinhas/SOPA Images/LightRocket via Getty Images
LISBON, PORTUGAL – 2019/11/07: Portugal’s President Marcelo Rebelo de Sousa speaks during the closing ceremony of the annual Web Summit technology conference in Lisbon. (Photo by Henrique Casinhas/SOPA Images/LightRocket via Getty Images)

The organizers of Web Summit said in a statement on Thursday that the decision followed discussions with the Portuguese government and city of Lisbon.

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“Lisbon is still Web Summit’s home but with growing Covid-19 outbreaks across Europe, we have to think of what’s best for the people of Portugal and our attendees,” said the conference’s founder Paddy Cosgrave. “The safest and most reasonable answer is to host Web Summit fully online in 2020. We look forward to welcoming attendees back to Lisbon in 2021,” he added.

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Facebook moderators at Accenture are being forced back to the office, and many are scared for their safety

Facebook moderators employed by third-party contracting firm Accenture and based in Austin, Texas are being forced to return to the office on October 12th, The Verge has learned.

Employees, almost all of whom are contractors, were instructed of the new policy at a company-wide town hall meeting today, say multiple people familiar with Accenture’s plans. Accenture, which has allowed its workforce of hundreds of moderators to work from home since March due to the COVID-19 pandemic, has not given the employees a reason for why they must return to the office. Accenture did not take questions at the town hall meeting, telling concerned employees that it would schedule a second call to answer COVID-specific questions regarding matters like sick leave and time off. High-risk workers are being asked to make alternate arrangements, and will not have to come in.

Facebook has an estimated 15,000 paid contractors almost entirely employed by

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Apple drops its App Store fee for events forced online by the pandemic

Apple is waiving the customary 30% fee it charges businesses that sell tickets to online events in the company’s App Store for the rest of the year.

Apple suspended the fee to give businesses affected by the coronavirus pandemic more time to adapt to operating almost entirely online, a spokesman told CNBC. App store developers such as Airbnb, the home-rental company, has expressed interest in holding more events online, the Wall Street Journal reported.

Earlier this week, Apple agreed to exempt Facebook events from the 30% fee. This summer, the social media company introduced paid online events as a way for small businesses to make some money. Facebook said it would not be taking a cut of event fees until August 2021. Apple’s suspension of its 30% fee means that sellers of online events will be able to keep all their earnings, minus taxes. 

Apple expanded the fee suspension on

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Australian rescuers forced to euthanise some beached whales as toll rises

Only a few dozen of the 470 whales stranded on Australia's coast can still be saved, rescuers warned
Only a few dozen of the 470 whales stranded on Australia’s coast can still be saved, rescuers warned

Australian rescuers were forced Thursday to begin euthanising some surviving whales from a mass stranding that has already killed 380 members of the giant pod.


While 88 pilot whales have been saved since the pod was discovered beached on Tasmania’s rugged western seaboard four days ago, the death toll is expected to rise as the window for rescue closes.

“We still have a few more live animals that we think are going to be viable to move,” said Tasmania’s Parks and Wildlife Service manager Nic Deka, praising the hard “yakka” (work) of rescuers who will continue until nightfall and into Friday.

“There is a likelihood that we’ll be continuing the rescue effort tomorrow… our focus has been on those that appear the most viable and have the most chance of success,” he

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