BANCO DO ESPORTE: An analysis of the applicability of a Fintech as an instrument of technological innovation to minimize the socioeconomic impacts resulting from the COVID-19 economic crisis in the Brazilian sports context

Abstract

At a time of accelerated technological change, innovation has become a necessity for the lives of people, companies, and institutions. The financial market has been following these transformations with the entry of financial technology companies. Fintechs brought the diffusion of the internet and digital media, reduced transaction costs, better prices and fees, and the financial inclusion of the unbanked. In sports, institutions have been reinventing themselves and reviewing their processes to invest in new technologies and ensure competitive advantage and new sources of resources. At the same time, the COVID-19 pandemic changed all humanity, and impacted the sport, forcing the adoption of cost control measures, in search of greater economy and financial viability. Thus, this dissertation aims to discuss how the economic impacts caused by the new coronavirus pandemic on Brazilian sports can facilitate the understanding of the economic challenges in the post-pandemic period and, at the same time, establish a relationship with the main initiatives sports market to highlight the importance of the emergence of new financial businesses, specifically, the creation of a Fintech aimed at the sports market. This study conducted a narrative review with an applied exploratory qualitative analysis format, with a bibliographic and documentary survey with a holistic approach. This analysis allowed a broader understanding of the impacts of the crisis on sport. It can be useful to support reflections and new research on the economic consequences that support the formulation of technological and financial initiatives for the resumption of growth in the post-crisis, avoiding structural retraction in sport Brazilian. The study concluded that the creation of the Sports Bank could contribute to the resilience and development of the sports segment in facing the impacts of the COVID-19 pandemic.