Impact of COVID-19 on FinTechs: India

• by Anshul Saxena, Tenzin Varma, Vishes Jena and Mohak Srivastava
• Jun 23, 2021
• 1 min
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This report delves deep into the innovative strategies FinTechs used to overcome the pandemic, measures taken by the government and regulators to enable ecosystem players, and the support FinTechs received from investors and accelerators. It also explores the change in behavior and adoption of digitized products by Indian customers.

COVID-19 has affected millions of lives and livelihoods across the globe. India’s experience with the pandemic has been particularly painful. MSC conducted a three-phase study to understand and assess the impact of the pandemic on the FinTech ecosystem. Our initial report presented the impact of COVID-19 on Indian FinTechs and various strategies that helped them survive and recover. This report shines a light on how the FinTech ecosystem has progressed and adapted to the new normal.