Development and prospects of the fintech industry in the context of COVID-19

2020

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DOI 10.1145/3410352.3410738
Data confidence 70 medium
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Abstract

As you know, the COVID-19 pandemic has impacted most of the world's economies, the financial sector, and the development of financial technology software tools. Today fintech projects are drivers of the development of the financial sector. There are prerequisites for the development and implementation of financial technologies in Kazakhstan. First, the development of fintech is a global trend driven by technological progress, the growth of e-commerce, socio-demographic changes and banking restrictions. In this sense, Kazakhstan is rapidly moving in line with global trends, in 2019 it showed outstanding results. Secondly, according to the KPMG study on the impact of COVID-19 on the economy of Kazakhstan, almost all respondents paid attention to the need to develop online technologies in their organizations. The trend will be solutions for working with big data, allowing you to create personal offers for customers, minimize risks, manage production, and intracelomic conditions