Artem Lyashanov: Fintech in Times of Crisis. Why Turbulence Is Not a Threat but a Springboard

Artem Lyashanov, fintech entrepreneur, investor, and expert in transactional business

When the world plunged into the global financial crisis of 2008, most businesses were fighting for survival. Yet that same period gave birth to Airbnb, Uber, Instagram, WhatsApp, and other global tech giants.

When the COVID-19 pandemic hit in 2020, the fintech industry didn’t just survive – it accelerated.

And when Russia’s full-scale invasion in February 2022 threatened the very existence of Ukraine’s economy, local fintech companies didn’t shut down. They adapted – and kept innovating, even to the sound of air raid sirens.

The paradox of fintech is that its biggest breakthroughs often happen in times of chaos.
 After more than a decade in the industry, I’m convinced: opportunities open up for those who look for them.

Here’s how.

The Darwinian Principle of Survival

Darwin’s theory of evolution applies not only to biology; it works in business, too. The one who survives is not the fastest, the bravest, or even the smartest, but the one who adapts the quickest. Just look at turtles and crocodiles – they’re also ancient creatures, yet they survived because they learned how to adapt.

If a company is heavy, slow, and rigid – which often applies not to startups but to well-established ongoing businesses, and if adaptability isn’t part of its culture or DNA, then a crisis becomes its downfall.

For fintech startups, however, crises are moments of opportunity. Fintech isn’t tied to geography; it can pivot almost instantly: servers reconfigured, language updated, policies adjusted – and it’s back in the game.

Another key advantage of startups is the team mindset. Their readiness for new challenges is much higher. These are not people who