Social responsibility leadership in the banking sector in times of pandemic

Abstract

The present work is a research on social responsibility in the financial sector, considering that social responsibility has achieved great notoriety since the end of the last century, both in the business, academic and social fields, basically due to the Internet, the globalization of the economy and policies increasingly focused on the interests of individuals involved with the companies, considering that the banking sector had to implement and reinforce fundamental aspects to survive the pandemic. The objective of this study is to determine the corporate social responsibility initiatives within the financial sector, to analyse the strategies implemented to provide timely responses to the economic reactivation in the face of the pandemic and to determine the main strategies and approaches of the financial system in the scientific literature between 2020-2023. The methodology applied is the research of scientific articles in recognized databases such as ScienceDirect, Scopus and Web of Science, where we found 25 research studies included for this systematic review of which we will see the 14 countries where the information was collected. In all the countries the economies suffered significant devastation and during this period they tried to adapt to new experiences to survive the pandemic and have profitability, as part of the affectation was the economic growth, unemployment, the closing of several companies, the economic activities slowed down, the expenses in elements of health services and protection increased, among others, besides the greater collaboration was sought between the governments and the banking institutions to put in practice measures of economic support, then it is concluded that financial institutions managed to change consumer priorities by adapting to digital technology ensuring that transactions are safe and reliable in order to avoid contagions and crowds, digitized financial services have the benefit of reaching millions of people and businesses, most research recommended that the financial system keep constant track of the prospects for improvement of economic activity and monitor the evolution of its customers and partners.