11 Aug 2020UpdatePandemic Finance: the consumer needs transforming fintechUPDATE: dispatches from the Canvas8 HQ

What effect is the pandemic having on people’s relationship with money, and which of these behaviours will last? We explore the insights behind three emerging consumer needs and the opportunities they present for financial brands.


COVID-19 has had a transformative effect on all industries, and finance is no exception. From supercharged gig-working to amateur investing, a number of cultural and behavioral shifts are likely to persist into the ‘new normal’. In our Pandemic Finance report, we identify and explore four key financial needs of the post-pandemic consumer. Here’s a sneak peek at three:

1. Personalized Gigs

Gig working has been accelerated by the pandemic. Driven by growing levels of unemployment, people are turning to ‘on demand’ income streams.

But their financial needs are largely not being met.How can brands help them navigate banking in ways that are relevant to the needs of their specific professions?

The pandemic has accelerated the popularity of gig working, such as food deliveryKai Pilger (2019)

2. Vulnerable Investors

App-based trading platforms such as Robinhood have made it easier than ever for amateurs to invest.

And during the pandemic, as concerns oscillate between health and wealth, there’s an increased desire among people to take more control over their finances, with Robinhood seeing its registered accounts increase from ten million in December 2019 to more than 13 million by May 2020.But how can brands keep consumers safe as they experiment with this socially acceptable form of gambling?

Trading apps could increase the risk of debt among those who are already financially vulnerableKaboompics (2018)

3. The Cashless Divide

Fear of infection has given new meaning to the phrase ‘dirty money’, pushing businesses and consumers alike to embrace cashless payments.

But the necessity of digital banking is leaving some behind.How can brands help people who rely on cash continue to participate in the economy?

Not everyone has the skills, devices, or access required for cashless servicesDavid Emrich (2020)

Want to understand how to deliver against the emerging financial needs of consumers post-pandemic? Download our free Pandemic Finance report now.