The French fintech sector was not affected by the health crisis
The general trend of integrating fintech into the global economy has been particularly noticeable this year with the health crisis. For the France FinTech association’s barometer, this was an opportunity to look back on a very singular year.
Over the last twelve months, the challenges of the first quarter did not evolve in the same environment as the rest of the year. Fintech took advantage of the crisis to speed up its arrival, and introduce tools and habits that might have taken us at least five years to integrate into a transition without a break point.
Nevertheless, France was not starting from as far away as some other countries. As we mentioned last week, the French are particularly attached to cash, but are among the first to pay by card. The digitization of payments and financial products is already far behind us, and the rate of bankers is particularly high compared to countries such as the United States.
This situation has prompted French fintech companies to attract investors, and not only French ones. French people have adopted mobile payments, neo-banking (for both professionals and individuals), and new, simpler, 100% online insurance services.
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