Cambridge Centre for Alternative Finance, alongside the World Bank and World Economic Forum, launches survey to assess impact of COVID-19 on the global fintech industry.
The empirical data collected will be used to understand COVID-19’s impact on the FinTech markets, how the global FinTech industry has responded and some of the immediate regulatory and policy implications. The aim of this online survey is to rapidly assess the performance of the global FinTech market and ascertain what kind of regulatory and policy responses might be most appropriate across different FinTech market segments and geographical markets. The survey is directed at firms in FinTech and Digital Financial Services (DFS) markets and will run from 15 June through to 30 July. Working with more than 150 global FinTech associations and ecosystem partners, the rapid assessment survey aims to reach 15,000+ FinTech firms in over 190 jurisdictions. For the purpose of this study, FinTech is defined broadly, encompassing advances in technology and changes in business models that have the potential to transform the provision of financial services through the development of innovative instruments, channels and systems. The joint rapid assessment survey targets 11 key FinTech industry verticals including digital lending, digital capital raising, digital payments, digital savings, InsurTech, WealthTech, digital custody, cryptoasset and consensus services, digital banks and market provisioning, across over 100 sub-verticals. “Global challenges require global solutions, this survey is a collective effort to bring the global FinTech ecosystem together to share their insights, express their views and voice their concerns in light of COVID-19,” comments Bryan Zhang, the Executive Director of the CCAF. “In turn, the rapid assessment survey findings will inform market participants, regulators and policymakers to take swift, appropriate and evidence-based actions.”