Rapid Innovation: How Fintechs are Adapting Under COVID-19

To understand more about the impact on and the role of these providers, CFI, in partnership with the Swiss Capacity Building Facility, conducted research to understand fintechs’ early adaptation and coping models under COVID-19. This brief draws findings from the Inclusive Fintech 50 applicant data coupled with key informant interviews with investors and fintechs conducted in March 2020. During June and July 2020, 403 early-stage fintechs applied through a publicly available online form that gathered data related to target market, financials, product details, as well as seven COVID-19-specific questions exploring changes in fintechs’ business and operating models between December 2019 and May 2020. The findings also include COVID-19 survey findings from six 2019 Inclusive Fintech 50 winners.