The disruption of the global pandemic led to a highly challenging 2021 for the FinTech sector. However, the new normal did not bring only negatives. The rapid shift to digitalisation throughout every aspect of our personal and business lives meant the industry was able to withstand many of the challenges that caused other industries so much pain. The more astute players were able to identify new opportunities and grab them by the horns. As most global activity defaulted to remote, FinTechs were able to cater to this trend by offering digital tools that solved a whole host of new problems businesses were now faced with - in the case of Soldo, for example, by offering visibility for finance teams as they increasingly found themselves in the dark as a result of remote working. As a consequence, it’s been pleasing to see a significant increase in FinTech investment over the last year, in spite of a rocky economic landscape. This has been particularly pronounced in the US, where private equity investments have grown from tens of billions of dollars several years ago to hundreds of billions, approaching trillions of dollars - if counting the market caps of firms that have gone public. But what does 2022 have in store for the sector? Will the industry continue to thrive and what challenges will need to be surmounted in order to ensure this? Finance Monthly FinTech Awards 2022. Spec i a l Fea t ur e 7
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