Several businesses have sought advice from Sterling, asking whether they should suspend their credit control collection process completely until the lock-down is lifted, fearing that chasing payments now may damage customer relationships.
“We commend the banking sector for tackling this issue head on, and encourage other leading UK high street and global banking brands to follow the lead of their peers."
“Major banking organisations as well as those from the wider financial services space, have refrained from investing in talent due to the lack of clarity."
The financial services roles most at risk of being lost to European locations include; private banking, trading, sales, operations, middle office and Risk & Compliance.