Not really. In this case all these companies are providing spend management and short term credit on credit cards. They are pretty good in managing risks because they they see all the customer's financials and spend habits. Ofc, some of the customers could became insolvent but I don't think it will have any impact on financial crisis.
A lot of fintech is focused on credit. What does that mean when interest rates skyrocket and creditors default? A fintech fueled financial crises?
Not really. In this case all these companies are providing spend management and short term credit on credit cards. They are pretty good in managing risks because they they see all the customer's financials and spend habits. Ofc, some of the customers could became insolvent but I don't think it will have any impact on financial crisis.