The coronavirus outbreak generated an unprecedented health crisis that is affecting people and countries all over the world. However, the pandemic is causing consequences far beyond the spread of the disease itself. With time, the dramatic socioeconomic impacts due to the lockdown appear clearer and more complex. COVID-19 is putting banks’ operational resilience under pressure.
This paper addresses the implications of the coronavirus on banks in terms of regulatory reporting and illustrates how software-as-a-service (SaaS) technology can provide solutions.