We have been hearing from many in the banking industry that there is confusion and a lack of data on how banks are and should be responding with official and unofficial calls for social distancing during the Coronavirus pandemic.
The Alloy Labs Alliance was founded on the belief that community and mid-sized banks could be more effective and maximize their impact by working together on areas of common interest, and we believe that is multiplied at this time. We have started to collect some data and are opening it up to share freely beyond our membership in the public interest of the entire industry.
Step one was a very basic three question survey we first published on Monday March 16 seeking to understand to what degree banks had identified cases of Covid-19 in their footprint, and how they were reacting with social distancing measures for customers and employees.
We will keep this survey running and will report on the changes over time on this blog as new responses come in, and we are also working on more powerful data visualizations to make the insights as valuable and actionable as possible. Please revisit and update the survey any time there is a change to your answers.
This is a small and uncontrolled sample size over a short snapshot in time, so we will avoid drawing any major conclusions just now, but here are the questions and the initial responses for the first survey:
1. What is the current status of Covid-19 in your bank's footprint? (chooses one)
Confirmed case(s) in your footprint - 45.59%
No confirmed case(s) in your footprint - 39.71%
Employee contact with confirmed case(s) - 10.29%
Employee(s) suspected case(s), experiencing symptoms - 4.41%
Employee(s) with a confirmed case - 0.00%
2. What customer-facing steps have you taken for social distancing? (choose one)
All branches operating as usual - 36.76%
Drive-through/ATM access only in all areas - 33.82%
Drive-through/ATM access only in affected areas - 14.71%
Reduced the number of branches open and/or operating hours - 8.82%
Digital Banking/ATMs only in all areas - 5.88%
3. What staffing steps have you taken? (choose all that apply)
Back-office employees working from home - 60.29%
Contact center employees working from home - 33.82%
All employees operating as usual - 26.47%
Normally customer-facing employees working from home - 22.06%
Employees working in shifts - 20.59%
Reducing hours for customer-facing employees - 14.71%
Other - 13.24%
Bankers, take the anonymous survey below, or at (we do look at IP address to approximate location, but no personal or corporate information is collected):
Survey also available here: https://www.surveymonkey.com/r/76C5SGZ
We will also share other relevant information and help facilitate discussions around the business, economic, and other longer-term industry impacts that are likely to arise beyond the urgent needs to slow the spread of the coronavirus at this time.
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