Can fintech companies and big tech firms give them competition? In the last few years, the trend of fintech credit and lending by tech companies has witnessed a massive leap. The authors estimate that in 2019, the value of fintech credit and big tech credit stood at $223 billion and $572 billion, respectively. In highly developed countries, the demand for credit is high, which gives impetus to fintech and big tech loans. The study also points out that countries with dedicated regulatory mechanisms for fintech and big tech lending allow them to grow, while stringent banking regulations don’t.

Source: Mint December 28, 2020 03:11 UTC