ANIL UZUN Comments on The Future of FinTech After COVID-19
Thursday 10 December, 2020Gobaba Ventures founder ANIL UZUN says he has his heart set on the betterment of FinTech after COVID19. As we all know, the financial industry has been increasing for the past decade. With the help of technology and innovation in the business has helped FinTech a lot to nourish. ANIL UZUN, an entrepreneur, and investor, based in London, has an enthusiasm to support ventures that are in FinTech. He says; the financial technologies started in banks but has left the conventional bank industry a while ago and expanded through borders and linked the economies of many countries in a single ecosystem.
ANIL UZUN also says he did not expect the world to witness a pandemic in 2020. When the year began, he declared his company's vision to invest in emerging technologies in trading, payments, and many other internet-based services. He provided ventures with a welcoming environment with integrity, openness, and a collaborative mindset.
“A deadly and infectious disease can change anything,” says ANIL UZUN. All sectors and industries are under pressure, and some have stopped their development studies. FinTech is entirely dependent upon technology, and there are many applications in development to be used in FinTech. ANIL UZUN adds, “Banks are under stress as well.” the technological infrastructure cannot support any business right now but will it continue like this when COVID ends?
ANIL UZUN says he does not have the exact answer to this question, but he has some assumptions. “The post-COVID FinTech industry is going to witness some changes, but the sector has the flexibility to welcome those changes,” he states.
ANIL UZUN continues;
“In the post-COVID world, the industries will need to provide their customers with customized software solutions. As in any sector, FinTech shall grow itself into a new era and continue to be an essential element of the future digital world.
ANIL UZUN says the Fintech companies shall stay relevant to the halt that happened in the pandemic. They should keep in mind that we will experience a new normal, and we shall have a good grasp of the unique normal situation to offer solutions in terms of FinTech.
“The effect of COVID on Fintech is no bigger than any industry.” ANIL UZUN adds. All of the industries are suffering due to pandemic. There has been a significant decline in many projects’ fundings, and the deals are on halt, and companies have been struggling and will also keep suffering until the illness goes away.
When the new normal starts, the customers will not be the object of the industry for FinTech. They will begin to buy the product from the Fintech companies, so with the new normal, the companies shall offer new products, solutions, and applications for the customers. So the quality of the product that the Fintech company develops will determine who will survive in the new normal. ANIL UZUN finishes saying that the best alternative to the traditional FinTech products will be the star.
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