Fintech Should Focus On Long-Term Vision, Not Short-Term COVID Buzz

Fintech has benefited from the impact of the pandemic of the global financial crisis. The “buy-now-pay-later” superstar Klarna’s recent fundraise put its valuation at over $10bn. The dispatch of the US federal stimulus package has given neobank startup Chime the opportunity to acquire tons of new customers by pre-funding the stimulus. Traditional financial services can easily build an interactive website or an app to appear millennial-friendly, but it's much harder for them to re-invent their risk management and operations for the new age.