In What Ways is Covid-19 Transforming the FinTech Industry?

Nowadays, in response to the crisis, many FinTech businesses, like the rest of the financial sector, have gone out of control. For instance, some have introduced cost-cutting measures, such as reducing their employees. Since all of them depend on transactions and volume-based sales, ensuring that as many expenses as possible are variable and fixed expenses are reduced is a top priority right now.

COVID-19 is driving many new FinTech developments, so the financial services sector might change dramatically in the next few years. With the pace of digital adoption increasing, companies’ capacity to adjust well to digital platforms will be critical to their future success.

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