Europe is experiencing an increase in the use of fintech applications in connection with the coronavirus pandemic
The world is fighting the coronavirus using distance, isolation, and even total blocking tactics. According to the independent advisory company deVere Group, in the current conditions in Europe, the use of fintech applications has increased by 72%.
James Green, manager of the deVere Group’s European division, said that “the world has changed in the last few days.” It affected how we interact, live, work and handle finances.
“A new era with digitalization and technology has already begun. Demand for video calling platforms - Google Hangouts, Skype, FaceTime and Zoom, etc. is growing rapidly, as the number of people working remotely is growing.
Recently, Zoom Video Communications has shown remarkable results, since since mid-February its shares have grown by 32%. It started when the markets started to fall. ”
According to James Green, after the 2008-2009 crisis. there was a void between what traditional financial services companies offer and what customers now expect.
Green says customers now want immediate 24-hour access to and manage their money, as well as a more “personalized” service with lower costs.
According to him, the situation with the coronavirus pandemic could accelerate the adoption of innovative technologies and fintech applications in general.
Over the past three years, the company has developed and implemented a range of innovative fintech applications, including deVere Catalyst, a low-cost investment and savings application that, according to Green, “eliminates the hassle of investing” and allows you to achieve “long-term financial goals” even despite the fact that users have very little investment experience.
“This new era was marked by a stunning leap in the use of our fintech applications among existing customers and a sharp increase in interest in products from potential customers,” says Green.
James Green also made an important conclusion:
“Financial technology is the engine of the so-called Fourth Industrial Revolution, which is becoming an increasingly dominant part of our lives; and the situation with coronavirus proves this. ”
The world is fighting the coronavirus using distance, isolation, and even total blocking tactics. According to the independent advisory company deVere Group, in the current conditions in Europe, the use of fintech applications has increased by 72%.
James Green, manager of the deVere Group’s European division, said that “the world has changed in the last few days.” It affected how we interact, live, work and handle finances.
“A new era with digitalization and technology has already begun. Demand for video calling platforms - Google Hangouts, Skype, FaceTime and Zoom, etc. is growing rapidly, as the number of people working remotely is growing.
Recently, Zoom Video Communications has shown remarkable results, since since mid-February its shares have grown by 32%. It started when the markets started to fall. ”
According to James Green, after the 2008-2009 crisis. there was a void between what traditional financial services companies offer and what customers now expect.
Green says customers now want immediate 24-hour access to and manage their money, as well as a more “personalized” service with lower costs.
According to him, the situation with the coronavirus pandemic could accelerate the adoption of innovative technologies and fintech applications in general.
Over the past three years, the company has developed and implemented a range of innovative fintech applications, including deVere Catalyst, a low-cost investment and savings application that, according to Green, “eliminates the hassle of investing” and allows you to achieve “long-term financial goals” even despite the fact that users have very little investment experience.
“This new era was marked by a stunning leap in the use of our fintech applications among existing customers and a sharp increase in interest in products from potential customers,” says Green.
James Green also made an important conclusion:
“Financial technology is the engine of the so-called Fourth Industrial Revolution, which is becoming an increasingly dominant part of our lives; and the situation with coronavirus proves this. ”