The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Business continuity remains banks’ priority in the next phase of Covid

The payment industry’s ability to withstand the disruption caused by the coronavirus suggests that lessons learned from previous outbreaks have served the industry well.


At Sibos earlier in October, a panel was held on how the industry coped with workforce disruption after the coronavirus outbreak.

Speaking at the event, Greg Keeley, executive vice-president at TD Bank Group, recalled: “Our business continuity plan was thrown out the window as we recognised the impacts of protecting our colleagues and the need to go virtual.

“However, practising our business-continuity and disaster-recovery plans allowed us to react to a situation no one could have foreseen.”

In a recurring theme since the start of the crisis, Keeley noted that while the bank had business continuity plans in place, these had to change because they were predicated on staff working from a single facility and having a back-up facility in the event of an incident.

Past experience

It is clear that banks with a substantial Asian footprint have benefited from prior experience of dealing with such crises.

Stephen Sheridan, Standard Chartered’s regional chief operating officer, Europe and Americas, tells Euromoney that his bank’s planning was informed by its exposure to previous disease outbreaks, such as Sars and Ebola, in its core markets.

“We benefited from early experience of the pandemic in China and were able to take learnings such as the increased need for colleagues to be able to work from home and roll out capabilities across other markets in anticipation of the global spread of the virus,” he says.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree