Rapid Innovation: How Fintechs are Adapting Under COVID-19
The economic crisis brought about by the COVID-19 pandemic is disproportionally impacting small businesses and low-income households. While there is emerging evidence about how individuals and MSMEs have been impacted by COVID-19, the impact on the providers that serve these customer segments is less clear, particularly when tech-enabled providers play an important role in mitigating the economic impacts of the pandemic for households and businesses by deploying services quickly and efficiently. Additionally, fintechs are well-suited to bounce back and reorient themselves in times of crisis given their agile nature. However, in order to determine how best to support fintechs, more information is needed to understand how these providers have adapted to a challenging economic landscape.
To understand more about the impact on and the role of these providers, CFI, in partnership with the Swiss Capacity Building Facility, conducted research to understand fintechs' early adaptation and coping models under COVID-19.