May 3, 2021 @ 7:53 am By Omar Faridi The Coronavirus crisis has accelerated digital transformation across the world, including the APAC region, which has resulted in many bank branch closures. There’s also been a significant increase in retail banking activities that’s supported by all-digital challenger banks. These virtual banks are digital-first and are usually more focused on improving customer experience (CX) than incumbents. Despite the socioeconmic challenges created by the COVID-19 outbreak, many new banking challengers have been able to grow their client base due to many more consumers engaging in online shopping and performing digital transactions. In order to stay ahead of the competition, Fintech challengers may want to consider a faster launch, as it could help test the viability of their product offerings – which can improve the ability to cater to customer requirements.