CCAF, World Bank, WEF: Covid-19 caused uneven growth across fintech - 0 views
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John Kiff on 03 Dec 20A joint report by The Cambridge Centre for Alternative Finance, the World Bank and the World Economic Forum, has found that while 12 out of 13 fintech sectors reported year-on-year growth during the first half of 2020, significant discrepancies between sectors and regions remain. Digital banking, digital identity and regtech sectors showed a more modest growth increase of 10% compared to their counterparts in digital payments, digital savings, wealthtech and digital asset exchanges which saw transaction volumes grow in excess of 20%. Procyclical digital lending fintechs saw an average 8% decrease in transaction volumes. Fintechs based in Emerging Markets or Developing Economies saw higher average growth in transaction numbers and volumes (15% and 12% respectively) than those in Advanced Economies. https://www.jbs.cam.ac.uk/faculty-research/centres/alternative-finance/publications/2020-global-covid-19-fintech-market-rapid-assessment-study/