Finch Capital has released FinTech: The Future Post CV-19, a detailed analytical report that outlines the challenges and opportunities for FinTechs during and, more importantly, after the COVID-19 crisis. The key findings of the report include:
- Most of the world will likely be going through the crisis until the 3rd quarter of 2020. Following this, there will be a recovery period of 12-18 months.
- Digital-only will increasingly become the new industry norm in most financial markets. This shift to digital-only will trigger a new battle for consumers between incumbents in the digital-only space and challengers adapting to the new digital-only reality.
- Financial institutions will increasingly turn to tech companies (as opposed to developing in-house solutions) to accelerate digital transformation.
To view the report in its entirety, click here.