The Economist

Economist-WEX report

Digital payments company WEX commissioned The Economist to survey U.S. financial services executives. We wrote the report, supplementing it with original interviews with fintech startup leaders.

As Microsoft CEO Satya Nadella recently remarked, the COVID-19 crisis has forced companies to compress years’ worth of digital innovation into mere months. The widespread adoption of home-working triggered much of this change as companies have had to reform labor-intensive, analog processes. For many organizations, that includes upgrading legacy payment processes to eliminate paper.

To gauge the role of payments innovation in companies’ response to COVID-19, financial technology firm WEX commissioned (E) BrandConnect, a commercial arm of The Economist Group, to survey 308 US-based executives in the financial services sector.

The findings show both opportunity and peril around payments, highlighting a stark reality: financial services companies that don’t adapt may not survive.


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