The New Normal: Stay-at-Home EconomyGlobally, we are witnessing the financial systems of several nations being faced with a series of unprecedented trials and tribulations as a result of the COVID-19 pandemic. The outbreak of the virus has led to the vigorous enforcement of lockdowns and social distancing measures worldwide, which in turn led to banks modifying or curtailing traditional bank services to abide by these norms. These changes have thus accelerated the increase of demands for digital banking services and banks worldwide are racing to catch up.
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Abstract: According to related media reports made on the afternoon of June 15, 2020, Global Investment Bank (GIB) & Capital Trust's Digital Bank has signed a strategic interbank lending agreement with Swiss International Holding Trust AG, officially establishing in-depth cooperation. It is expected that within the year, the digital bank will successfully complete its interbank fund lending transactions with Swiss International Holding Trust AG.
Due to COVID-19 wreaking havoc around the world, the year 2020 is truly shaping up to be a year to remember. The pandemic ravaging the globe currently means that the global financial system is faced with severely unprecedented challenges. The American financial market, in particular, plays an essential role in the global financial system. The major oil price slump in March directly led to several “circuit breaks” in the American stock market; with the excessive printing of dollars as well as poor performance in containing the virus by the US government among other elements, the global financial system is facing an enormous trial. On the other hand, the digital banking industry is showing a promising development coupled with a vigour never seen before.
Introduction: The arrival of the Digital Bank 4.0 era is a consensus in the finance industry. To usher in the new age, "GIB's Digital Bank" will implement real-time, intelligent, embedded, universal, and accessible financial services.
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