What does it take for a bank to retain its customers, especially when it is in economic and financial distress? In the wake of COVID-19, being flexible and empathetic to the needs of masses and going easy on due installments is something banks and other financial institutions have resorted to in the last three months. But there were a few players that found unique ways to do it and have the “wow” factor going in their favor. In this article, we look at how massive loan moratorium initiatives across the globe were implemented by banks and analyzed some UX hits & misses.
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