With COVID-19 still impacting businesses, Capital on Tap has published a paper looking into the future of finance and the impact of COVID-19. The whitepaper includes research into consumer payment habits, as well as expert predictions from C-level executives of leading UK fintechs, for those seeking advice on their finances during this difficult time.
Broken into five key sections, the whitepaper covers:
COVID-19's impact on finance (page 5)
The move to a cashless economy (page 12)
How businesses are adapting to change (page 21)
The room for FinTech startups (page 25)
Expert advice on managing finances (page 30)
You can find the whitepaper here.
COVID's impact on digital finance
The finance industry has long been at the forefront of the digital revolution. From automation of services, online banking to electronic payments, financial services have become much more streamlined and efficient benefiting consumers and businesses alike. COVID-19 is only accelerating these changes. In our paper, we are looking into how the pandemic is changing consumers’ payment habits and how businesses need to adapt and take on the technology to keep up with the impact of COVID-19.
Read on page 5.
Moving towards a cashless future
The Coronavirus crisis has hugely boosted cashless transactions and a cashless economy seems like a natural evolution. However, will the move towards a cashless future be beneficial or harmful? While there are a few clear benefits of going cashless, especially now when business owners will be looking for more ways to reduce the number of hand-to-hand transactions, the cashless economy will also require tackling some difficult questions about financial inclusion. We have asked several experts for their thoughts on the need for cash in the future.
Read on page 12.
Adapting to change
With face-to-face interactions and in-person service rapidly becoming a thing of the past and with a potential shift towards a cashless economy, both the financial sector and consumers will have to quickly adapt to the changing climate. In our paper, we have investigated the risks and opportunities for the financial sector and businesses using their services.
Read more on page 21.
FinTech sector in the post-COVID-19 world
Will we see new Fintech startups emerge as a result of the coronavirus crisis or will the market soon become saturated with established companies expanding their services? What will this mean for traditional banks? Can they still be relevant with progressive digital innovation? We have asked our panel of experts if there is room in the FinTech space for new startups and how it can benefit consumers going forward.
Read more on page 25.
Managing your finance digitally
Making the leap to digitalising business finances can be a daunting task for many business owners and requires a lot of consideration to ensure you make the right decisions for your company. Capital on Tap asked experts to share some of their advice on moving to a digital finance world and things businesses should be aware of.
Read a full guide on page 30.