COVID-19 has brought uncertainty and reduced profitability to banking, and 2021 will see consolidation and lower appetites for risk. Many banks, traditional and digital, will bite the dust or emerge from 2021 both poorer and leaner. Lending and risk management will dominate priorities in 2021, with banks keen to fix their now-outdated risk models, speed up decision-making, and battle a flood of fraud and data breaches. Digital acceleration will go to extremes, with some banks mistakenly launching digital-only propositions or drastically shrinking their branch network. In this report, we explore Forrester’s predictions for banking in 2021.