COVID-19 Seen Widening the Digital Divide

In her latest Forbes column, the CEO of the Financial Health Network, Jennifer Tescher, takes note of the societal shift towards an all-digital lifestyle that is happening today due to COVID-19; she also highlights the fact that while the use of financial apps is skyrocketing, there are millions being left behind; millions do not have a smartphone or broadband internet at home and many kids live in homes with no internet access at all; many also have smartphones but with limited data plans; for those that do have a smartphone many are reluctant to use financial apps due to language barriers or concerns about security and privacy; fintech companies need to keep these points in mind when developing their apps. Forbes