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Impact of COVID-19 Lockdown on Digital Banking: E-Collaboration Between Banks and FinTech in the Indian Economy

Impact of COVID-19 Lockdown on Digital Banking: E-Collaboration Between Banks and FinTech in the Indian Economy

Narinder Kumar Bhasin, Anupama Rajesh
Copyright: © 2021 |Pages: 17
ISBN13: 9781799848912|ISBN10: 1799848914|ISBN13 Softcover: 9781799858379|EISBN13: 9781799848929
DOI: 10.4018/978-1-7998-4891-2.ch008
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MLA

Bhasin, Narinder Kumar, and Anupama Rajesh. "Impact of COVID-19 Lockdown on Digital Banking: E-Collaboration Between Banks and FinTech in the Indian Economy." Collaborative Convergence and Virtual Teamwork for Organizational Transformation, edited by Jingyuan Zhao, IGI Global, 2021, pp. 160-176. https://doi.org/10.4018/978-1-7998-4891-2.ch008

APA

Bhasin, N. K. & Rajesh, A. (2021). Impact of COVID-19 Lockdown on Digital Banking: E-Collaboration Between Banks and FinTech in the Indian Economy. In J. Zhao (Ed.), Collaborative Convergence and Virtual Teamwork for Organizational Transformation (pp. 160-176). IGI Global. https://doi.org/10.4018/978-1-7998-4891-2.ch008

Chicago

Bhasin, Narinder Kumar, and Anupama Rajesh. "Impact of COVID-19 Lockdown on Digital Banking: E-Collaboration Between Banks and FinTech in the Indian Economy." In Collaborative Convergence and Virtual Teamwork for Organizational Transformation, edited by Jingyuan Zhao, 160-176. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-4891-2.ch008

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Abstract

The COVID-19 outbreak has drastically changed the life of every person and has infected people in 185 countries. Since no vaccine has been developed for this disease so far, lockdown, work from home, and social distancing and only a few essential services were allowed to open. Lockdown and restricted movement of people was the only solution to control this crisis. These steps taken by all the countries have stopped all the commercial activities which left all businesses, banks, and financial institutions to count losses and cost. The big question which has emerged that whether e-collaboration between banks and technology continues to be the key to success for finding solutions to the problems in this new environment which COVID-19 has created. This chapter examines the way the digital banking collaboration between banks and Fintech can resolve the problems provided by the COVID-19 pandemic and control the impending economic fallout in India and across the world.

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