2022-06-27-世界经济论坛-The_Global_Covid-19_Fintech_Market_Impact_and_Industry_Resilience_Study_199页_15mb

Summary of The Global Covid-19 Fintech Market Impact and Industry Resilience Study

Core Content

This study, The Global Covid-19 Fintech Market Impact and Industry Resilience Study, is a comprehensive analysis of the impact of the pandemic on the global fintech industry. It is a follow-up to the Global Covid-19 FinTech Market Rapid Assessment Study from December 2020, offering a medium-to-long-term perspective on the resilience and performance of fintech firms across various verticals and geographies.

Main Objectives and Methodology

• Objective: To assess the long-term impact of the pandemic on the fintech industry, with a focus on market resilience, financial health, and the role of fintech in financial inclusion.
• Methodology: The study surveyed 1,448 fintech firms across 105 jurisdictions and 192 countries, capturing full-year transaction and qualitative data for 2019 and 2020. This provides a broad and detailed dataset for analysis.

Key Findings

• The fintech industry showed greater resilience to the pandemic than previously reported.
• Growth was uneven across verticals and regions, with digital lending being more severely affected than other areas.
• Advanced economies and jurisdictions with strict lockdown measures experienced stronger fintech market growth compared to emerging and developing economies.
• Fintech firms that acted as distribution partners for government relief packages saw increased activity.
• The industry's adaptability and innovation helped firms respond to changing market dynamics and operational challenges.
• Regulatory support and policy interventions played a crucial role in enabling fintech firms to thrive, especially in EMDEs (Emerging and Developing Markets).
• Fintechs are making a positive contribution to financial inclusion, particularly in reaching women, low-income households, and SMEs.

Industry Verticals

1. Digital Lending

• Market Performance: Growth was less robust than other verticals, especially in EMDEs.
• Resilience: Firms in advanced economies were more resilient.
• Regulation: Regulatory support was lower in EMDEs, with firms expressing dissatisfaction.
• Client Profile: Digital lending firms often serve SMEs and underserved populations.

2. Digital Payments

• Market Performance: Continued strong growth, with notable expansion in emerging markets.
• Resilience: Resilience varied by region and regulatory environment.
• Client Profile: Digital payments expanded access to financial services, particularly for low-income and SME customers.
• Regulation: Regulatory frameworks supported innovation while ensuring consumer protection.

3. Digital Capital Raising

• Market Performance: Growth was strong, especially in advanced economies.
• Resilience: Firms in EMDEs faced challenges due to limited regulatory infrastructure.
• Client Profile: Focused on small businesses and entrepreneurs, enabling access to capital through crowdfunding and other digital channels.
• Regulation: Needed more supportive frameworks to enable growth and ensure transparency.

4. Insurtech

• Market Performance: Growth was robust, with increased adoption of digital insurance solutions.
• Resilience: Firms in advanced economies were more resilient.
• Client Profile: Served a broad range of customers, including those previously excluded from traditional insurance markets.
• Regulation: Regulatory support was limited in EMDEs, requiring further development to ensure consumer protection and market integrity.

5. Market Provisioning (Enterprise Technology)

• Market Performance: Strong growth in enterprise fintech solutions.
• Resilience: Resilience varied by region and firm size.
• Client Profile: Targeted large enterprises and institutions, enhancing their financial operations through digital tools.
• Regulation: Needed more consistent and supportive policies to ensure stability and growth.

Regional and Country Insights

• Global Resilience: The industry as a whole was more resilient than previously thought, but country-level differences were significant.
• EMDEs: Still have a long way to go in realizing fintech's full potential, particularly in lending, capital raising, and insurance.
• Regulatory Frameworks: Many EMDEs require improved regulatory environments to support fintech innovation while protecting consumers and maintaining financial stability.

Contributions and Partners

• Research Team: Led by the Cambridge Centre for Alternative Finance (CCAF), with contributions from the World Bank Group, World Economic Forum, and others.
• Survey Partners: Included major fintech associations and organizations from around the world, ensuring broad representation and data accuracy.
• Supporters: Funded and supported by the Ministry of Finance of Luxembourg and the UK Foreign, Commonwealth & Development Office.

Conclusion

The study highlights the resilience and adaptability of the fintech industry during the pandemic, its potential to enhance financial inclusion, and the need for improved regulatory support in EMDEs. It serves as a foundational resource for policymakers, regulators, and industry players to guide future strategies and interventions in the fintech sector.