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Jakarta Post

[INSIGHT] Fintech can drive strong post-COVID-19 recovery in Asia

  • Bambang Susantono

    The Jakarta Post

PREMIUM
Manila   /   Tue, December 22, 2020   /  09:31 pm
[INSIGHT] Fintech can drive strong post-COVID-19 recovery in Asia Fintech illustration (JP/Hengky Wijaya)

To say 2020 has been a challenging year is a massive understatement. The COVID-19 pandemic has quickly undermined development gains from recent decades and slowed growth in many Asian economies. Yet, every crisis presents opportunities. One is the rapid advance in digital technology, which offers a way to recoup some of these gains and spur a strong economic revival once the pandemic has passed. As we all know, the pandemic has accelerated the use of digital technology. Many of us have become adept at online video conferencing and other digital tools while working from home. Pervasive restrictions on mobility and lockdowns have driven companies to shift their businesses and services online. The use of digital technology and e-commerce has become the business norm. Digital payment platforms have eased a transition from offline to online transactions—and their use has skyroc...