Consider a few of the key trends we have seen this year:
- Accelerating digital adoption, including the demand for e-payments solutions and contactless banking services.
- Radically shifting customer behaviors, including the use of e-commerce platforms, digital customer service channels and e-wallets.
- Growing fintech investments and partnerships from corporates looking to accelerate their transformation efforts.
- Mature fintechs and bigtechs embracing M&A to grow geographically or add new forms of value for their consumers.
- Increasing attention from governments and regulators as to how fintech is evolving and what needs to be done to support the changes.
The changes we have seen this year will not likely stop when COVID-19 wanes. Around the world, people and businesses recognize the importance of agility and responsiveness. Companies across the financial services spectrum now understand what is at stake if they do not embrace digital innovation.
Whether you are the founder of a fintech or the CEO of an incumbent financial institution, consider 2020 as the gamechanger that it was.
As you read this edition of Pulse of Fintech, ask yourself: How can we use this once-in-a-lifetime moment to create the future we desire?