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FinTech in the Post-COVID Period

In: Post-COVID Economic Revival, Volume I

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  • Natalia G. Adamchuk

    (MGIMO University)

Abstract

This chapter deals with problems of financial technologies and its using at the Post-COVID Age. Technological innovations that take into account signals about consumer needs are opening up new opportunities for the financial market. This study showed that the COVID-19 pandemic has had a positive impact on the development of FinTech companies. However, their adaptation to post-COVID conditions may face certain difficulties due to a lack of understanding of the timing of economic recovery from the shock, regulatory uncertainty, financing problems, and, as a consequence, the ability to develop and provide new products and services. Within the framework of this work, the following hypothesis was formulated—the success of FinTech before and in the context of the pandemic determines the viability of this direction. The different levels of “economic immunity” financial institutions have to crisis phenomena will determine the speed of transformation from the modern global economy into a digital one. This study concludes that the new reality businesses are experiencing regarding technological cooperation, in the context of COVID-19, is likely to accelerate the development of interactions for the provision of financial services, with the potential to expand access to markets, the range of products/services offered, and convenience for consumers. Thus, FinTech has great development prospects in the post-COVID world, provided that the above aspects are addressed.

Suggested Citation

  • Natalia G. Adamchuk, 2021. "FinTech in the Post-COVID Period," Springer Books, in: Vladimir S. Osipov (ed.), Post-COVID Economic Revival, Volume I, chapter 0, pages 273-282, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-83561-3_19
    DOI: 10.1007/978-3-030-83561-3_19
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