The background
Tensions between Ukraine and Russia are shaking markets, and European stocks and investments make no exception.
Amid uncertainty, the fintech market is vital and volatility is not harming the industry that has been able to get over $18 billion funding in just two months.
Maybe it’s still too early to fully evaluate consequences, but we can already observe opposite reactions if we consider single companies.
Fintech professionals say that it’s a hard time for those firms that are seeking high valuations and investors, but in the meanwhile fintech reached new records in the UK.
Firms focused on offering innovative and frictionless payment methods are working and cooperating to simplify merchants’ lives and avoid lower profits - especially after pandemic.
Around the world
Concurrently, some parts of the world are benefiting precisely from fintech tools. It’s the case of El Salvador, where tourism is rising due to the controversial choice of the country.
In Hong Kong, one of the most banked cities in Asia, people are preferring fintech new banking systems to traditional systems, making it easier for people to manage their finances and find new financial opportunities despite what’s happening - and happened - in these years and weeks.
Why fintech seems different
What surprises about fintech is that the industry is acting like a sort of separated world:
In the surge of contrasts, it creates financial security; While tensions arise, fintech firms don’t stop allowing people to have countless financial possibilities; While we can’t control events at a country level, fintech is giving us full control on our financial future.
And the article written by Denada Ramnishta sounds even more astonishing: amid contrasts, the word that is shaping the future of fintech and people’s financial control is collaboration.
