The Impact of COVID-19 on Fintech: The Global Fintech Surveys
Last year, the World Bank Group conducted two global surveys related to the impact of COVID-19 in fintech, jointly with the Cambridge Centre for Alternative Finance (CCAF).
- The Global COVID-19 FinTech Regulatory Rapid Assessment Study targeted financial supervisors and aim at understanding (i) in which ways their use of financial technology for supervisory purposes had changed, as well as (ii) whether they had made changes to the way their supervise fintech firms due to COVID-19. The survey was responded by 118 financial regulators in 114 jurisdictions, from both advanced economies (AEs) and emerging markets and developing economies EMDEs).
- The Global COVID-19 FinTech Market Rapid Assessment Study targeted the fintech firms themselves. It aimed at understanding the impact of COVID-19 on a) key performance indicators and products and services; b) the extent to which fintech firms had benefited from policy or regulatory support, and c) the policy and regulatory measures that fintech firms consider most urgent. The survey was responded by 1,385 firms operating across 169 jurisdictions, covering both AEs and EMDEs.
Through this session the team will provide a view of key findings from both reports, followed by a Q/A to explore commonalties and/or differences in the findings across the surveys and key insights to incorporate into the WBG policy/operations work. The session will also provide the opportunity to hear from the CCAF, and how it can support organizations such as the WBG in their fintech agenda.
The event will take place at 10:00 am EST.