Fintech revolutionizes financial habits in times of pandemic

Friday, August 6, 2021

Fintech revolutionizes financial habits in times of pandemic

Withdrawing money from the ATM with just a code, making payments in shops without even requiring a card, managing all the movements of your account from an application is just part of how FinTech came to transform our financial habits.
Nearshoring and Agile Software Development Company

FinTechs have managed to capture the attention of a public inclined towards the use of technology due to their speed and innovative services , discover the ways in which these facilitate their day.

Withdrawing money from the ATM with just a code, making payments in stores without requiring a card, managing all the movements of your account from an application is just part of the ways in which FinTechs came to transform our financial habits .

With the arrival of the pandemic, this type of market had a greater influence on consumer behavior in the region .

Financial Apps changed the way of interacting with banks, facilitating the control of personal finances.

Antit offers rapid design and development as well as the creation of complex, high-load mobile applications. Being the first group in the region to manage the development of multiple banking applications .

FinTech Apps have fostered confidence on the part of consumers , which has promoted further growth of these platforms.

At Antit, the development of our products is focused from start to finish on the customer experience, putting the customer at the center of every detail for their greatest satisfaction.

The acceleration of mobile digital services has been driven in the market in a context where people who had been excluded from banking systems found a niche of opportunity.

The Mobile Finance Report 2020, which crosses data from different parts of the world between January and June, showed that the pandemic accelerated the growth of FinTech applications during the course of the current year compared to 2019.

The number of sessions in payment applications and banking services increased by 49% and 26% respectively, the most impressive growth rates were presented in: Japan (75%), Germany (45%) and the United States (33%).

In addition, users spend more time within the applications during 2019 the average was 7.7 minutes per session in the banking or payment applications, however, this figure increased to 8.35 during the first half of 2020 representing an increase of 8.9%.

Likewise, Argentina presented the highest growth in terms of time invested in applications during 202 0 compared to the previous year, increasing by 72%.

Then came Ukraine, with 62%, Russia and Brazil both with an increase of approximately 50%. In Japan, this statistic grew by 21%.

Likewise, along the same lines, a growth in the use of FinTech applications is reported by 88% in 2020.

Melissa López
August 6, 2021
Fintech