For much of the world, 2020 was such a bad year that it has almost become a joke. The pandemic caused chaos in our personal, professional and social lives.
The financial and fintech worlds were turned completely upside down. Companies were forced to adapt to a rapidly-changing set of restrictions and challenges; customers had an ever-evolving set of needs and companies needed to learn quickly how to meet them with limited resources.
As a result, a number of major changes quickly unfolded in fintech. Now, with mass-distribution of COVID vaccines, it seems as though there is a light at the end of the tunnel: the end of the pandemic may be in sight. However, many of the trends that developed in the fintech world as a result of COVID are likely to stay long after the virus loosens its grip on global society.
What are these trends? Here is what the experts have to say.
#1: Alternative Assets Are on the Rise
One of the most significant trends that the fintech industry has seen so far in 2021 is the growing popularity of alternative assets–namely, cryptocurrencies.
Cryptocurrencies have steadily been gaining popularity since their inception around 2010. This growth was accelerated in late 2017 with the initial coin offering (ICO) boom and the short-lived Bitcoin run to $20,000. However, since the start of