Isolation and lockdown to drive the use of fintech apps

Fintech is becoming the new normal since the world has to readjust to new living and working conditions

fintech apps

Isolation and lockdown to drive the use of fintech apps. Source: pixabay.com

According to deVere Group, the financial advisory company, the use of financial apps in Europe has increased by 72% in a week due to social-distancing amid the COVID-19 outbreak.

A new era has already begun, with digitalization and new technologies driving the shift. This can be seen by demand soaring for video-calling platforms such as Google Hangouts, Skype, FaceTime and Zoom amongst others, as more people from ever work remotely
James Green, deVere Group’s Divisional Manager of Europe 

For instance, Zoom Video Communications gained more 32% in share since the market began its decline in mid-February.

Besides, the fintech apps enable immediate, 24/7 access to the use and management of their money. It means personalized, on-demand services at lower costs.

It is also expected that due to the COVID-19 pandemic, the move towards fintech will be significantly accelerated. This way, deVere Group has launched its contactless advice service in responding to the coronavirus outbreak.

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