Dec. 7, 2020, 5:44 p.m.
European Banking Sector to Get Severely Impacted After the COVID Breakout
As the effect of the COVID-19 pandemic continues to reverberate, the impact on the global fintech firms continues to evolve at an unprecedented rate. A rapidly spreading outbreak is presumed to have a sudden economic slowdown across the globe. Various aspects of fintech firms are directly impacted by the COVID-19 pandemic, which includes the restraint of cash flow for many industries, loan moratorium, credit risks, loan repayments, and transaction processing, among others. While the COVID-19 outbreak severely hits automotive, aviation, and other sectors, the BFSI sector continues to witness both negative and positive impacts.
Negative Impact of COVID-19 on Fintech firms