How One Bank Workforce Went Fully Remote Amid COVID-19
As the coronavirus pandemic began to spread across the country, Live Oak Bank did what almost all banks — along with other businesses — did: sent employees to work at home to contribute to social distancing. But unlike most banks, Live Oak had every employee working remotely. The bank has kept all operations up and running remotely, just as it did when hurricanes have closed its Wilmington, North Carolina, headquarters. On the latest episode of the ABA Banking Journal Podcast — sponsored by Reich and Tang Deposit Solutions — Live Oak CTO Brian Lora addresses how the bank’s cloud-based infrastructure helps it stay resilient when the operating environment changes. He also offers tips for moving toward a fully remote workforce and practices for maintaining a productive work culture in a telework context. Additional resources: ABA resources on COVID-19 pandemic response and business continuity planning Free cloud desktop resources from Summit Technology Group for ABA member banks April 2 ABA webinar on navigating the risks of rapidly going remote
