Fintechs: the unstoppable momentum driven by the pandemic

“The business changes. The technology changes. The team changes. The team members change. The problem isn’t change, per se, because change is going to happen; the problem, rather, is the inability to cope with change when it comes”. The author of these words, the North American software engineer Kent Beck, may not be the most famous figure in scientific or general literature, but these words paint an accurate picture of the times that we are currently living through and the challenges that we need to face in order to survive the pandemic, and not just in terms of our health.

As new needs have arisen around the world, so too have changes to the traditional landscape when it comes to accessing financial resources. Fintech companies have stopped simply being a promising anecdote in the world of finance and have become an important if not fundamental support for the rules and regulations in the banking industry.

The World Economic Forum has recently highlighted on their website the current state of trend-setting regulations, naming enough countries as examples to show that we are facing something much more significant than a small evolution in the way of accessing financial resources. In fact, it is such a big change that, here at GDS Modellica, we have produced a brief infographic that illustrates exactly how the new touchless economy is redrawing the map of financial innovation.