The Promise of Fintech: Financial Inclusion in the Post COVID-19 Era

Author: Ms. Ratna Sahay, Mr. Ulric Eriksson von Allmen, Ms. Amina Lahreche, Purva Khera, Ms. Sumiko Ogawa, Majid Bazarbash, and Ms. Kimberly Beaton

Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways.

Volume/Issue: Volume 2020 Issue 009

Publication date: July 2020

ISBN: 9781513512242

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Topics covered in this book

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Finance , DPPP , DP , Fintech company , fintech lender , use of big data , credit market , Fintech companies in the United States , payment service , supervised fintech company , Financial inclusion , Fintech , Mobile banking , COVID-19 , Global

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Summary

Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.