Participation in Global Research for COVID-19: APU’s Prof. Dr. Nafis Alam is a Member of the Research Team of The Global COVID-19 Fintech Market Rapid Assessment Study
In line with the latest developments under unprecedented circumstances brought by the COVID-19 pandemic, the Cambridge Centre for Alternative Finance at the University of Cambridge, in association with The World Bank and the World Economic Forum conducted research & surveys, and published the largest empirical studies on the impact of COVID19 on FinTech – The Global COVID-19 FinTech Market Rapid Assessment Study.
We are proud to share that our Head of School, School of Accounting & Finance, Prof. Dr. Nafis Alam, contributed to the research as a member of the global researchers team, to provide ASEAN regional analysis of the global report. He had worked alongside researchers and finance professionals from across the globe, including academicians from the University of Cambridge, World Bank, UK Aid etc.
The study which took place over the last seven months surveyed 1,385 firms in 169 jurisdictions and found that despite COVID19, 12 out of 13 FinTech sectors report growth in H1'20 compared to H1'19 - but growth was found to be uneven. Except for digital lending, all verticals Digital Assets Exchanges, Digital Payments, Digital Savings and WealthTech reported a 20% (YoY) increase in transaction volume (H1'20), whereas Digital Banking, Digital Identity and RegTech reported more modest 10% (YoY) increase. FinTech markets with more stringent COVID-19 lockdown reported higher growth in transaction volume.
The report will serve as a timely resource and drive further conversations between industry, regulators, policymakers, and market-participants on how best to continue weathering COVID-19 impact on the Financial services sector. It has also proven the relevance of FinTech in transforming the finance sector to embrace upcoming global challenges, particularly challenges brought by the COVID-19 pandemic.
Download the full report here to learn more about FinTech in COVID-19: https://www.jbs.cam.ac.uk/wp-content/uploads/2020/12/2020-ccaf-global-covid-fintech-market-rapid-assessment-study.pdf
Click here to view the launch video: https://www.weforum.org/agenda/2020/11/the-global-covid-19-fintech-market-rapid-assessment