Report Code: A08280 | Pages: NA | Mar 2023 | 3316 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Fintech Crisis Management Market
Request Now !Globally, the market for fintech crisis management is experiencing significant growth and is expected to expand in the future owing to the rising adoption of technology in the fintech industries. Â Fintech crisis management is the innovation and advancement in financial technology, which helps in dealing various types of incidents & emergency situations in the fintech industry. The complexity of the finance sector has grown rapidly with the emergence of fintech, as emerging technology including such machine learning, artificial intelligence and distributed ledgers are incorporated into business enterprise applications. Furthermore, fintech crisis management is a modern program that makes a new approach and demands utilization of resources and technologies and focuses on certain areas of business risk and protect the reliability &credibility of the financial institution network.
COVID-19 scenario analysis:
Rise in cyber-attacks on banks and various financial institutions and increase in need to manage real-time human errors drives the growth of the fintech crisis management market. In addition, growth of criminal activity and rising terrorist attacks on fintech industry fuels the growth of the market. However, various different regelation across the globe hampers the growth of the market. Furthermore, adoption of advance technology such as AI and machine learning in fintech crisis management and growing adoption of cloud database in fintech firms is expected to provide lucrative opportunity for the market.Â
The global fintech crisis management market trends are as follows:
Many fintech firms started offering free services to financial institutions and banks during COVID crisis. Furthermore, businesses are affected by COVID, fintech firms started promoting themselves in an innovative way. For instance, Libeo, a fintech startup platform for managing invoices, is giving small and medium-sized enterprises free access to help them with account payables, manage, finance and pay their invoices.In addition, SHTAR and Bond.ai fintech firms started providing free cloud-based and advanced account automation services for free. Xelix has confirmed that it provides free software access that helps in scanning payable information in real time, surfacing invoice risks and errors such as duplicate invoices, retailer fraud, internal fraud and inaccurate VAT before payment.
Wolters Kluwer, a Dutch information services company, developed its new technology, OneSumX risk management software, which was built for financial services for increasing analytics skills of organizations. It also provides various tools such as risk management, audit, finance, and efficiency tools to provide financial institutions with greater monitoring and management of their financial data.Â
Key benefits of the report:
Questions answered in fintech crisis management market research report:Â Â Â
Fintech Crisis Management Market Report Highlights
Aspects | Details |
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By Component |
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By Deployment Model |
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By Enterprise Size |
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Key Market Players | Braintree by PayPal, EnfusionLtd.LLC, Verifi, Inc., Gravity Payments, ESHARES, INC., DBA CARTA, INC., TransUnion LLC, Ant Financial Services Group, Social Finance, Inc., Avant, LLC |
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