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The Cambridge Centre for Alternative Finance releases report "The Global COVID-19 Fintech Market Impact and Industry Resilience Study."

30 Jun 2022 10:31 AM | Anonymous

The Cambridge Centre for Alternative Finance, Cambridge Judge Business School has just released their report titled "The Global COVID-19 Fintech Market Impact and Industry Resilience Study."

The study, jointly carried out with The World Bank and the World Economic Forum, was made possible by the support of the Ministry of Finance, Luxembourg and the UK Foreign, Commonwealth and Development Office.

The key findings include:

- Firms in Advanced Economies (AEs) still dominate in terms of transaction volume, exceeding those in Emerging Markets and Developing Economies (EMDEs)

- Growth rates for the digital payments vertical (the largest sector in global transaction volume) are higher in EMDEs than AEs

- Fintech firms operating in jurisdictions with more stringent COVID-19 related lockdown measures grew faster than those in less stringent lockdown

- A large proportion of responding firms' clients are new customers and from groups that have faced challenges in accessing financial services via traditional intermediaries - pointing to potential contribution that fintech firms are able to make to financial inclusion

- Responding firms perceive the sector to be relatively resilient with firms reporting increases in revenue and turnover across all verticals