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Fintech Startups to Face First Major Test With Economic Slowdown

Fintech Startups to Face First Major Test With Economic Slowdown

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FintechNews RoundupUSA
··1 min read

With the coronavirus causing havoc in financial markets and likely leading to a sharp economic slowdown fintech startups will be facing their first major test; most fintechs were started after the financial crisis and so have not weathered difficult economic conditions; with interest rates falling quickly this will challenge many of the digital banks that like to differentiate themselves with high rates; Chime’s rates today are around 1.5%, according to its website; MoneyLion says they are ready with Dee Choubey commenting: “MoneyLion is prepared, even though it’s never had to weather a market downturn, because the company was founded on the lessons of the 2008 financial crisis” Bloomberg

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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