COVID-19 has been sympathetic to the cause of technology companies as manual processes have moved to digital at a faster pace through 2020. Some techies prefer to identify the pandemic as a watershed moment in the use of technology in our daily lives.

This has helped many banking and financial services players to strike deals with banks and other legacy institutions quickly compared to pre-COVID days. Industry insiders pointed out that many deals have been struck within weeks, which were pending for months, since COVID made physical processes almost untenable and egged bankers to deploy tech solutions quickly.