HomeERP NewsWill the pandemic see fintech fly or die? Will the pandemic see fintech fly or die? alex.chau@getreach.hk May 12, 2020 ERP News No Comments Sending User Review 0 (0 votes) Fintechs have found themselves in an unsympathetic investment environment Pandemic fintech Pandemic fintech- There is no doubt that Covid-19 is shaking up the financial market. Big players such as HSBC have seen share prices fall 30%, a massive decline for an FTSE 100 blue-chip stock. Oil prices are often considered the indicator of global economic conditions and they’ve turned negative for the first time in history. Financial markets are collapsing and – as the recent report from agency brokerage Rosenblatt Securities suggests – there is a real worry about the slowdown in investment. While public fintechs were significantly outperforming the S&P 500 and Nasdaq up until the Covid-19 crisis hit, since the end of February fintechs have underperformed in both stock market indexes. Fintech startups have found themselves in quite an unsympathetic investment environment. Whether this means that innovation will come to a grinding halt remains to be seen. However, fintechs still have an upper hand compared to some other industries and sectors. They have built innovation around the most cutting edge of technologies and are lean compared to some of the stalwarts of their industry, meaning they can be more agile. Therefore, they are in a better position to adapt at speed. Most companies have adapted to a new ‘normal’, we have all moved to remote working, adjusted operations and strengthened customer services. But whilst the ability to adapt is crucial, the next immediate step is to look into the future and predict customer needs. This insight-led approach is also something that is in the DNA of most financial challengers. While there are both challenges and opportunities ahead, fintech’s path through the Covid-19 storm is likely to be a journey worth following. Read More Here Article Credit: TechRadar Share this: Tweet Pin It Related Posts Just Announced – Acumatica 2020 R2 Release Highlights CRM: The Cornerstone for Top-notch Customer Experience SYSPRO USA Enables AP Payment Automation with Automated Payables for SYSPRO, powered by Priority CPX About The Author alex.chau@getreach.hk
