The Indonesian Fintech Lenders Association has offered to help accelerate the disbursement of national economic recovery program funds as the government struggles to amass the data needed to deliver the money to the right places.
A federal stimulus program to combat the recent economic downturn is pushing more community banks to embrace financial technology partnerships.
PT JULO Teknologi Finansial (JULO), an Indonesian based Fintech P2P Lending, initiated several programs to help individuals affected by the pandemic.
The COVID-19 outbreak and the economic downturn it triggered gave the fintech sector in Bulgaria a chance to see various opportunities for mass adoption of financial technology in the near future.
Fintech Adoption: Mobile, Digital, and Contactless Payments Increasingly Being Used in Indonesia Due to COVID-19
Certain segments of the fintech industry, including digital, mobile, and contactless payments, have seen increased adoption in recent months, since the pandemic began.
Mastercard is partnering with NXP Semiconductors and consumer electronics company Xiaomi to develop a contactless payment feature for NXP's mobile wallet.
Paytm ties up with Non-bank financial institutions (NBFCs) to use past-transaction data to assign credit limits for loans for daily purchases of grocery, retail goods.
The SG$6 million ($3.44 million) grant can be used by local fintech companies to cover their daily working capital expenses and finance new product development work with financial institutions.
Fintech startups have been attracting a flood of investments since last year and the pandemic is accelerating the trend as more customers look to pay without contact.