Narayanan Ganapathy, a financial analyst, angel investor, and the CEO at Angivest Ventures, recently noted that significantly more people are using smartphone apps and other types of software to make digital payments, because of the COVID-19 outbreak and resulting challenges.

Ganapathy, whose comments came during a recently held webinar, called “Fintech Trends – Yesterday, Today, and Tomorrow,” stated:

“[The increase in digital payments] has reflected positively on the Fintech sector, where we see financial technology companies and startups are nowadays growing and expanding their scope of work by offering more innovative products and services to the suddenly increased numbers of clients, which include individuals, government entities, banks and other institutions. We will sure witness more from this sector in the near future.”

The Middle East Fintech sector continues to expand as Bahrain and the United Arab Emirates (UAE) move up in global startup rankings, according to a new report. Digital banking in Bahrain is now seen as a necessity, and not a “luxury” like before due to COVID-19, according to Dalal Buhejji, senior manager for financial services at the Bahrain Economic Development Board.

Source Credit: Crowdfund Insider