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.  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:

• As more organizations adopt digital workplace environment or require new access to their platforms, global countries have been alerted to a spike in the number of criminals attempting to steal professional and intellectual property data from banks and financial institutions.
• Although the fintech ecosystem has proven to be revolutionary for financial intermediaries, demand for its services depends on global economic activity. Consequently, the impact of Covid-19 on smaller fintech companies has been extremely damaging.
• Many firms are unable to function due to lack of capital, while others have been facing challenges because creditors are seeking inappropriate conditions for investment.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact 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. 

The global fintech crisis management market trends are as follows:

Promotion of free fintech solutions during COVID crisis:

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.

New technology software to flourish the market:

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. 

Market scope and structure analysis:

Key benefits of the report:

• This study presents the analytical depiction of the global fintech crisis management market along with the current trends and future estimations to determine the imminent investment pockets.    
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global fintech crisis management market share.     
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global fintech crisis management market growth scenario.         
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
• The report provides a detailed market analysis based on the present and future competitive intensity of the market. 

Key segments covered:

Questions answered in fintech crisis management market research report:    

• Who are the leading market players active in the fintech crisis management market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the fintech crisis management market?
• What are the projections for the future that would help in taking further strategic steps?