What does the current Covid19 crisis mean for FinTech startups?

The comments raised in this The Economist  article (paywalled) a few weeks ago have all been eclipsed by the Covid19 crisis.
Whilst many startups are coming to terms with the lack of available UK Government support (please sign the
Qventures petition to increase EIS & SEIS tax reliefs) we can conclude that, the current crisis will only accelerate the need for innovative digital services.

Lessons will be learnt from capacity constraints, operational resilience, customer experience and service continuity. There will also be introspection around the timetomarket for adopting innovative technology firms.

It is our view that typical go-live times of 12-24 months need to be rapidly decreased to the time it takes to integrate the provider. Vendor risks should be mitigated at go-live rather than through a long and drawn out Information Security cycle.

We have a vibrant and exciting FinTech industry in the UK which, collectively with the dominant industry providers, can continue to grow the global position of the UK financial services industry.

This will require more partnerships and collaboration in our industry and better, more innovative ways to remove the risks associated with software vendor adoption.

Adoptech enables the rapid, riskless deployment of digital services.

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