Research Paper: The Global COVID-19 FinTech Market Impact and Industry Resilience Study
The Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School, the World Bank Group and the World Economic Forum, with MENA regional partner ADGM Academy Research Centre, collaborated to produce the Global COVID-19 FinTech Impact and Industry Resilience Study. The study of 1,448 FinTech platforms, operating in 192 jurisdictions, reveals that the global FinTech industry has been more resilient to the pandemic than initially thought.
The findings indicate that FinTech firms operating in jurisdictions with more stringent COVID-19 related lockdown measures tend to grow faster than those from jurisdictions with less stringent lockdown measures. FinTech firms operating in Advanced Economies (AEs) still dominate in terms of transaction volume, exceeding those in Emerging Markets and Developing Economies (EMDEs). Growth rates for all FinTech verticals are also higher in AEs than EMDEs with the exception of digital payments, which is the largest market segment by global transaction volume.