Bank has a significant part in the effort to restore global finance after being struck by the pandemic this year. Banks will become the fund source that helps the business restore and revive after the crisis besides the incentive that many countries’ governments have been given or planned to give. For that reason, Vassilis Milionis said that a bank must focus on the right part where they give the funding to support the restoration process of global finance. This investment and financial expert also mentioned three essential things that are necessary to put in the priority.
The first part is the digitalization. The bank should focus on the business that runs in this industry, as this sector will become the core of the business and finance world in the future. Furthermore, the pandemic also forces people to use this platform more often due to their mobility limitations. Therefore, this part also becomes a great sector that will attract more investors to invest their money. Thus, it will help the countries and companies to get back on their feet. All of this process will also affect the financial condition globally.
The second part that Vasilis Milionis also mentioned is the supply chain. Today, the business world needs to have strong and durable supply chains. Banks can help create a program that connects those who need a product to the supplier that provides them. It doesn’t only help to simplify the process to start and run the business. But, it also accelerates the restoration process, which the expert predicts that within two or three years, the result will be visible.
The last part is the workforce quality. The crisis leads to a difficult situation that pushes the business world to adapt and create a new system to utilize the new normal that is happening and will happen in the future. Therefore, high-quality human resources will have a role in making this situation work well. The bank can enter the process to provide a top-quality workforce by having programs that help the company financially to create better training and hiring programs. Milionis said these are all important to make the world run once again in a better direction, not only for people but also for the business world in the future. These are also necessary to restore the condition after the crisis.