Wednesday, July 17, 2024

It’s time for Fintech to shine, but will the government let it?

By DAC000 , in corona crash Fintech , at April 12, 2020 Tags: ,

or so goes the loaded headline. The article correctly notes many Fintechs will fail because of The Corona Crisis, and also confirms The UK government hasn’t included a single Fintech in the deployment of state assistance. About a five-minute read.

Comment: the point the author misses when asking why The UK government hasn’t involved Fintech firms in their state assistance is simple — Fintechs are NOT banks, and offer very, very limited services e.g., faster payments. Combine this with the undeniable fact most Fintechs are unprofitable and financially unstable and its clear why excluding these firms is a prudent decision.