Fintech Development Boosted GDP Resilience During Covid-19: Report

31 Oct 2022, 12:30 pm · 1412d ago · 1 min read · Indianweb2.com

A study by Nanyang Business School's Centre for Sustainable Finance Innovation in collaboration with Ant Group revealed that nations with stronger fintech ecosystems demonstrated greater economic resilience during the Covid-19 pandemic. Analyzing data across 86 economies worldwide, the report used gross domestic product growth and unemployment rates as key metrics. The findings show that well-developed digital financial infrastructure enabled businesses and consumers to maintain commercial activity, distribute relief funds efficiently, and preserve employment during widespread lockdowns and disruptions.