What’s on the horizon for fintechs

New Efma report examines how Covid-19 is changing the fintech landscape.

Publish date: 23 June 2020
Theme : Fintech

There have been many recent headlines about a precipitous drop in fintech funding due to the turbulent global economy. Investors are pulling back their money, putting the future of some firms at risk. With the coronavirus here to stay, people in the fintech world are correctly wondering how a protracted pandemic will alter the financial services landscape.

While this pandemic is likely to serve as a catalyst for further digital dependence, we wanted to look at what role fintech firms will have in our new, altered reality. Görkem Cokcetin, Ex-Head of Fintech Engagement & Partnerships at ENBD and an Efma Senior Advisor has written a new, exclusive report. He looks at three key areas for fintechs: businesses (primarily SMEs), households, and operations. In each domain, he breaks down different trends both pre- and post-crisis and how we might see things develop in the coming months.

From digital onboarding to alternative credit scoring, fintech firms have been digitally disrupting the industry for years. But now, with the entire world being disrupted, it may just be time for many industry players to rethink the way they do business. New ways of thinking should favor fintechs and their business models. As they are generally smaller and more nimble than traditional players, they can respond quicker to the immediate challenges in the industry. “These may be uncertain times for everyone in the financial services world, but the major disruptions and changes represent an opportunity to think differently,” says Görkem.

Download your copy of the report today to take a deeper look at the future of the burgeoning industry!