McGuinness says Covid leading to rapid changes in banking, finance

A former Midlands/North West MEP says Covid is accelerating “dramatic changes” in banking and finance.

Mairead McGuinness, who’s now EU Commissioner for Financial Services, Financial stability and Capital Markets, says early this year she’ll be looking at how these “rapid” changes are going to impact the financial system.

She says some of the changes were going to happen anyway but Covid had sped the process up, an example being the closure of bank branches not only in the north west of Ireland but throughout Europe.