Covid-19 hastens fintech adoption in US while industry seeks guidance


Unique circumstances created by the Covid-19 pandemic forced more Americans to get comfortable with financial technology, including Venmo, while leaving the industry wondering whether regulators will devise a reliable legal framework to support it. — Dreamstime/TNS

Unique circumstances created by the Covid-19 pandemic forced more Americans to get comfortable with financial technology, while leaving the industry wondering whether regulators will devise a reliable legal framework to support it.

Plaid Inc, which offers products to power fintech apps, commissioned a survey by The Harris Poll that released findings on Sept 15 showing that a large majority of Americans relied more than ever on digital applications to manage their money after the coronavirus outbreak – and they’re not going back.

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