The FinTech industry has been growing rapidly and significantly, becoming the go-to service provider for some of the most important financial services, such as lending and payments. Since 2020, the onset of COVID-19 has substantially impacted the industry, both positively and negatively. This chapter discusses the recent performance of the FinTech industry based on a large-scale survey across the globe. The chapter then focuses on analysing the ‘new normal' in banking, after the pandemic era, based on the findings of the global survey, with explicit focus on the FinTech sector, followed by further implications on the impact that the pandemic had in the traditional banking sector. The chapter concludes by providing an overview of the emerging opportunities that appear in the FinTech sector.
Copyright: © 2022
Tsanis, K. & Stouraitis, V. 2022, Global fintech market: recent performance and the effect of COVID-19 – investigating the impact of the pandemic in the financial technology sector, External Events and Crises That Impact Firms and Other Entities. https://doi.org/10.4018/978-1-7998-8346-3.ch001