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The COVID-19 outbreak came at the time India’s economy was already slowing due to persistent financial sector weaknesses. The pandemic has had a major impact on the economy and the business of the financial sector. The sales outsourcing company, AOB India, has been carrying out the sales of top financial institutions like 5p-Paisa.com. They have delivered exemplary sales results even during the lockdown.

Going by the feedback from the top sales outsourcing company in India, AOB India,: understanding how COVID-19 has impacted personal finances and shifts in banking behavior, here are the stats that the sales consultants present for the consumer behavior-

. 71% are experiencing a financial impact due to COVID-19

. 45% prefer to speak with an associate on the phone, compared with 4% pre-pandemic

. 71% of customers selected reputation as a priority when choosing a financial institution

. 59% of Gen Zs (ages 18-26) and Millennials (ages 27-37) have put the financial decision on hold

. 60% of Gen Zs will take action to secure a better financial future

. Financial institutions must pay attention to evolving needs

. Many are accomplishing tasks online, and more than 60% will be

. 14% said they were more likely to entertain in-person sales and service teams

. 56% believe the recovery will take place within 6 months to 2 years

. 1/3 expect to put large financial decisions on hold for up to three months, but only 12% expect the economy to recover by that time

Over the past six months, the sales outsourcing company, AOB India has helped business leaders to reorganize supply chains, set up remote operations, and make tough financial decisions. The world anxiously awaits an effective COVID-19 vaccine that can be readily distributed. Until then, the priority is to reenergize organizations—to act rather than to react. Even as the uncertainties of the COVID-19 crisis multiply, the goal must be to rebuild for the longer term.

We are in the last quarter of 2020. Taking intuitive and impactful decision can predict the future of your organization in the depleting market scenario. Wondering what should be your next step to take your financial institution to the next level? Partner with the top sales minds and unearth new strategies to take your business a step ahead.

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