How Fintech has slowed the spread of COVID-19, Kristalina Georgieva, Antgroup INCLUSION conference

The INCLUSION Fintech Conference hosted by Ant Group, has begun in Shanghai. One of the highlights of the first day was a keynote speech by Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). Her brief was to deliver an overview of the global economic situation and it’s impact on Covid-19.

Kristalina Georgieva explained her thoughts in the following manner.

“Fintech is already playing an important part in slowing the spread of COVID-19. It has made contactless and cashless transactions very popular and very useful. Digital financial services also enable governments to quickly expand social safety nets and help facilitate direct payments between people, in turn accelerating economic recovery.”

Georgieva highlighted the pivotal role financial inclusion can play in building a better and more resilient world, especially as economies and businesses continue to recover from the COVID-19 pandemic.

This event is happening online and onsite in Shanghai. With the goal of bringing together thought leaders from across the globe to envision the digital economy of the future.

Some of the featured speakers include:

Eric Jing, Executive Chairman of Ant Group, discussing financial ecosystems powered by technological innovation.

Simon Hu, CEO of Ant Group  explained, “since our inception over 16 years ago, digital technology has been part and parcel of everything we do, continuously driving the evolution of our strategy, operations, and value proposition.”

United Nations Development Progamme Administrator Achim Steiner said: “COVID is accelerating digitization and the dividend could be huge, from helping to deliver our climate goals to improving health and education access. Whether we can actually benefit from the digital transformation, however, depends on how digitalization reshapes finance. The time has come for the financial system to fulfill people’s needs, the ultimate owners of the world’s financial assets – digitalization can fuel that change.”

Nobel Economics Laureates Michael Spence and Bengt Holmström also shared their views and insights on the current state of global finance and the integration of technology and financial services in a conversation with Long Chen, director of the Luohan Academy, an open-research initiative by Alibaba Group.

About the INCLUSION Fintech Conference

The INCLUSION Fintech Conference was officially announced in January 2020 to bring together the global financial and technology communities, to envision a world that is more inclusive, green, and sustainable through digital technology. The three-day conference in Shanghai has 40 forums covering global digital economy, digital finance, innovative technology, and sustainability among other topics.

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