The COVID-19 pandemic has had a significant impact on consumer behavior in the financial sector. The crisis has accelerated the shift from cash to digital payments, and this trend is expected to continue in the future. Consumers are also increasing their use of digital channels, but physical touchpoints will still play a role post-pandemic. In terms of investment preferences, consumers are turning to savings and safer investments, such as insurance. The way financial services organizations handle the crisis will also influence consumer loyalty, with over a third of consumers finding a new provider during the pandemic.
