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2020 review: A year which saw fintechs cut jobs, pay & business arms

December 29, 2020

Alternative lenders struggled through long accreditation processes and dried up reserves, before eventually taking on loans which carry the potential risk of high default rates.

Neobanks could no longer rely on interchange fees as a main source of income, prompting a number of them to pivot and focus on alternative revenue streams.

Payments firms whose customers are largely made up of shops and restaurants have experienced serious drops in volume.

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