By Rahul Chopra, Chief Digital Officer, Clix Capital
The pandemic has ensured a concerted digital drive from all stakeholders – customers and companies as well as the government and regulatory authorities. The push has been necessitated due to multiple factors. These include extended lockdowns pan-India, health and hygiene concerns propelled by the fear of coronavirus infection and enabling government regulations for the digital delivery of services.
While the pandemic is a temporary global threat, many of the behavioural changes will be permanent. Although the digital drive is across industries and functions, it is more pronounced in financial services. Many sectors have witnessed online emerge as a major sales channel with e-groceries, e-pharmacies and e-commerce amongst the biggest gainers. Monthly payments such as utility bills, government taxes and other regular outgoings are also seeing significant online traction. The accelerated digital drive because of COVID-19 could be the much-needed final push towards full-scale digitalization.