The Rise of Fintech: What You Need to Know
The COVID-19 pandemic has undoubtedly increased our dependence on technology as digital solutions have largely been the only means to overcome disruptions to people's daily routines. Many financial businesses are pivoting towards fintech, as shown by the trend in higher demand for fintech services observed through our user cases.
Fintech is now utilised by millions of people worldwide. The COVID-19 pandemic is certainly not the sole catalyst for the switch to digital, but it has undoubtedly magnified ongoing digital transformation trends. Many studies have revealed a strong rise in fintech products and services since the start of the pandemic.
In this report, ADVANCE.AI demonstrates the reshaping of the fintech industry due to the COVID-19 pandemic from the perspective of: Institutions, Customers, Regulators and Technology. As fintech continues to advance well into the present and beyond, future trends for the fintech industry are also discussed.
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