New opportunities for FinTechs in a post-COVID-19 world

According to a Deloitte report on the future of banking, the COVID-19 pandemic may end up resulting in new opportunities for FinTechs in the long term. In particular, the report notes that, if FinTechs reexamine their business models for a post-COVID-19 world, they can take advantage of an increased appetite for mobile and digital solutions. This is likely to be realized via challenger and neobanks finding an increased market share as well as by FinTechs partnering with more traditional financial institutions that are seeking innovative solutions. Opportunities may also arise for FinTechs to take solutions to a global level by partnering with big technology firms. As the world slowly emerges from the pandemic, it will be important for FinTechs to carefully consider their role in a world that is likely to look very different.