Goldman says pandemic is giving a boost to digital banking

Pedestrians wearing protective masks walk past Goldman Sachs Group Inc headquarters in New York, US. Company research suggests that more than a quarter of customers don’t plan to return to branch offices even after it is safe to do so, Goldman’s consumer bank head said. — Bloomberg

The coronavirus pandemic is accelerating a move by consumers toward online financial services and demonstrating that banks can operate with fewer physical branches, a Goldman Sachs Group Inc executive said.

Company research suggests that more than a quarter of customers don’t plan to return to branch offices even after it is safe to do so, Harit Talwar, head of Goldman’s consumer bank, said Tuesday at Tearsheet’s Resilience Conference, which is being held online.