{"id":14956,"date":"2020-05-29T11:37:00","date_gmt":"2020-05-29T11:37:00","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=14956"},"modified":"2020-05-29T11:37:00","modified_gmt":"2020-05-29T11:37:00","slug":"5-ways-fintech-startups-are-adapting-to-the-covid-19-pandemic","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/5-ways-fintech-startups-are-adapting-to-the-covid-19-pandemic\/","title":{"rendered":"5 ways FinTech startups are adapting to the COVID-19 pandemic"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">We\u2019re now living in a new macroeconomic narrative, one with major changes taking place nearly every day. To survive in such conditions, it\u2019s necessary to be flexible. Unsurprisingly, FinTechs are already starting to adapt to the new realities. Here\u2019s 5 important things FinTechs are doing to survive and come out with a brighter future:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Funding<\/b><span style=\"font-weight: 400;\"> \u2013 funding for new projects is quickly drying up. Many FinTechs are postponing their search for funding or working closely with investor angels.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Online events<\/b><span style=\"font-weight: 400;\"> \u2013 FinTech startups are usually reliant on events to form partnerships, seal deals and find funding. As the current situation does not allow for these events to occur in person, free virtual events are filling the void to help facilitate these connections.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Online financial service opportunities <\/b><span style=\"font-weight: 400;\">\u2013 there has been a 72% surge in FinTech app usage as consumers switch to digital payments and adapt mobile apps more readily. FinTechs poised to support consumers in these endeavors have a real advantage.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Risk-taking<\/b><span style=\"font-weight: 400;\"> \u2013 some startups are walking the talk and launching new products. For example, Bux recently launched a new cryptocurrency platform with zero commission.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Community-focused initiatives<\/b><span style=\"font-weight: 400;\"> \u2013 FinTech startups are supporting communities during these tough times by offering free advice, cancelling\/waiving transaction fees, making donations to nonprofits and hospitals and launching never-before-seen consumer-centric products. This could be a new trend where the needs of the community become business priorities.<\/span><\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-14956 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='When culture change fails, look in the mirror'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/when-culture-change-fails-look-in-the-mirror\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2016\/10\/Transfer-of-Training--150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-3671\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-3671'>\n\t\t\t\tWhen culture change fails, look in the mirror\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Open banking changing the landscape of the financial services industry'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/open-banking-changing-the-landscape-of-the-financial-services-industry\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/Open-Banking-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-8538\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/Open-Banking-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/Open-Banking-300x300.jpg 300w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/Open-Banking-768x768.jpg 768w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/Open-Banking-1024x1024.jpg 1024w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/Open-Banking.jpg 1378w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-8538'>\n\t\t\t\tOpen banking changing the landscape of the financial services industry\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='&#8220;Alternative Delivery Channels and Technologies&#8221; Handbook'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/alternative-delivery-channels-and-technologies-handbook\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2016\/10\/78787878-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-3682\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-3682'>\n\t\t\t\t&#8220;Alternative Delivery Channels and Technologies&#8221; Handbook\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>We\u2019re now living in a new macroeconomic narrative, one with major changes taking place nearly every day. To survive in such conditions, it\u2019s necessary to be flexible. Unsurprisingly, FinTechs are already starting to adapt to the new realities. Here\u2019s 5 important things FinTechs are doing to survive and come out with a brighter future: Funding &hellip;<\/p>\n","protected":false},"author":12,"featured_media":14957,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[527,335],"class_list":["post-14956","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-fintech","category-international-fintech","tag-know-how","tag-startups","bulletin_edition-05_may","bulletin_edition-fintech-2020","b_post_type-bfc-recommends"],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=14956"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14956\/revisions"}],"predecessor-version":[{"id":14958,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14956\/revisions\/14958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/14957"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=14956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=14956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=14956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}