From every crisis springs innovation. From the financial crisis of the late 2000s, seeds of small business credit innovation were sown, fertilized by venture capital, and bore a new generation of credit providers. From the repercussions of the pandemic, new seeds of transformation have been planted. The competitors that will sprint ahead are adopting the dimensions of reinvention outlined below. Reinvention translates into improved economics and a virtuous circle of market share gains, more revenues, and more investment; repeat.

Figure 1: Dimensions of Reinvention

Source: Celent research, interviews, and analysis