Assessment of the COVID-19 pandemic on the functioning of the fintech international market

Abstract

BSTRACT COVID-19 claimed more than 1.3 million lives worldwide, while the economy, industry and the public were paralyzed. Each stakeholder faces unique challenges as a result of the pandemic, and the FinTech community is no exception. The pandemic disrupted the usual scenario in which people interact with each other and the envi- ronment, and FinTech is the only reason why various sectors of the economy continue to operate. This includes trading, payment, telecommuting, payroll, document exchange, etc. The article examines how the pandemic has affected FinTech's economic performance, compares the statistics of FinTech verticals with previous years to put in evidence the impact of pandemic on the industry, and how FinTech itself has helped maintain the viability of the global economy.