The CARES Act expects banks to distribute $350 billion in loans to small businesses in just three months – that's $4 billion per day. To deliver, banks will need to rapidly update and scale their operations, including people, process, and technology. The act is good news, but it also raises a lot of questions.
In this video, Genpact's global leader of commercial banking, Dan Davidson, address three key questions banks have around the CARES act:
- What challenges does the CARES Act pose for banks?
- What opportunities does the CARES Act pose for banks?
- What solutions should banks consider at this time?
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