Business

Lawyers Note Changing Business Patterns Amid Pandemic

Published

5 years ago

February 5, 2021

As we approach a full year spent contending with the COVID-19 pandemic, many people are wondering about the impact of the virus on different industries. In response, we’ve seen plenty of coverage of restaurants and retail and even healthcare, but there are plenty of sectors that have received less coverage. For example, what’s currently happening in our country’s courtrooms and law offices? While certain issues have undoubtedly continued being adjudicated, including personal injury law services and criminal cases, the pandemic has significantly shifted other patterns.

Lawsuits In The Workplace

At the start of the pandemic, one of the biggest changes we saw on a national scale was the shift to remote work wherever possible. For those who couldn’t work from home, though, every day became uniquely risky, and many employers failed to act with their workers’ best interests in mind. The result was a spike in the number of workplace lawsuits, covering concerns ranging from failure to provide a safe work environment to discrimination, retaliation against whistleblowers, and wage and hour disputes caused by COVID-19 related work changes.

Decline In Divorces

While there may be a significant number of workplace lawsuits going on at present, there’s another core legal function that’s seen a significant decline: divorces. This may be surprising, given the interpersonal conflict the pandemic has caused, but it makes sense in other ways. Over the past year, both marriage and divorce rates have dropped largely because of inconvenience. Barring serious dangers like domestic violence, couples are contending with the reality that divorce is expensive and involves life transitions that are too hard to make right now.

Of course, the current depression in divorce rates is sure to be short lived, and may actually increase post-pandemic, a trend that was seen in China after their initial national shutdowns. Indeed, as divorce lawyer Rowdy Williams observes, “Divorce lawyers should expect to see a steady flow of clients in the months after the pandemic, especially once the economy begins to rebound.” People aren’t going to get divorced until they feel they have the financial resources to take care of things properly, and while Williams suggests we aren’t there yet, the spike could be coming soon.

Healthcare Suits

Healthcare providers have played an important role in our national survival throughout the COVID-19 pandemic, working on the frontlines of what has felt like a never-ending war, but they haven’t done it alone. Rather, doctors, nurses, and other healthcare workers like personal care assistants have operated in conjunction with insurance companies, who have changed numerous policies to accommodate new needs. Still, despite everyone’s hard work and most groups’ best efforts, not everything has gone as planned and the result is that insurers and nursing homes have been on the receiving end of numerous lawsuits.

Perhaps more than any other type of healthcare facility, nursing homes have been charged with a failure to protect their patients and staff, including through a failure to provide appropriate PPE and to test and isolate vulnerable patients. Even as the national death toll climbs above 400,000, more than a quarter of those can be linked to nursing homes and other long-term care facilities. Families are grieving and they are holding those facilities accountable for these untimely deaths.

We’re unlikely to be able to discern the full patterns underlying COVID-related lawsuits for some time, but already some trends are clear – and current demand, while different, can certainly keep lawyers busy. There are a lot of complaints to contend with at present as every industry deals with unprecedented conditions, but they all exist within the bounds of the law.

Business

Inside the $4.3B Quarter: What’s Fueling Black Banx’s Record Revenues

Published

16 hours ago

January 16, 2026

Matthew Wiles

Every quarter brings fresh headlines in fintech, but few make the kind of impact achieved by Black Banx in Q2 2025. The Toronto-based global digital banking group, founded by Michael Gastauer, reported an extraordinary USD 4.3 billion in revenue and a record USD 1.6 billion in pre-tax profit, while improving its cost-to-income ratio to 63%.

These results not only highlight the company’s operational efficiency but also mark a pivotal moment in its journey from challenger to global leader. The big question is: what’s fueling such impressive financial performance?

Customer Growth as the Core Driver

One of the clearest engines of revenue growth is Black Banx’s expanding customer base. By Q2 2025, the platform had reached 84 million clients worldwide, up from 69 million at the end of 2024. This 15 million net gain in six months demonstrates both the attractiveness of its services and the scalability of its model.

Unlike traditional banks, which rely heavily on branch expansion, Black Banx leverages digital-first onboarding that allows customers to open accounts within minutes using just a smartphone. This approach is especially effective in regions underserved by legacy institutions, where access to affordable financial tools is in high demand.

More customers don’t just mean higher transaction volumes—they generate a compounding effect where network size, brand trust, and service adoption reinforce one another.

Real-Time Payments and Cross-Border Solutions

A major contributor to Q2 revenues is the platform’s real-time payments infrastructure. Black Banx enables instant cross-border transfers across its 28 supported fiat currencies and multiple cryptocurrencies, helping both individuals and businesses bypass the traditional bottlenecks of international banking.

For freelancers, SMEs, and multinational clients, this means faster liquidity, reduced foreign exchange costs, and simplified global operations. The demand for real-time financial services is growing rapidly—Juniper Research projects global real-time payments turnover to hit USD 58 trillion by 2028—and Black Banx is strategically positioned to capture a significant share of this market.

Crypto Integration as a Revenue Stream

Another key revenue driver is crypto integration. While many traditional institutions remain hesitant, Black Banx embraced digital assets early and has built infrastructure to support Bitcoin, Ethereum, and the Lightning Network. In Q2 2025, 20% of all transactions on the platform were crypto-based, reflecting strong customer appetite for hybrid banking services that bridge fiat and digital assets.

Revenue comes not only from transaction fees but also from value-added services like crypto-to-fiat conversion, staking yields (4–12% APY), and blockchain-enabled payments. For customers in markets with unstable currencies, these services act as a financial lifeline, further expanding the platform’s relevance.

AI-Powered Efficiency and Risk Management

Record revenues would be less impressive if costs ballooned at the same rate. But Black Banx has proven adept at balancing growth with efficiency. Its cost-to-income ratio improved to 63% in Q2, down from 69% a year earlier, thanks to heavy reliance on AI-powered automation.

AI now drives fraud detection, compliance, and customer onboarding—areas where traditional banks often struggle with cost inefficiencies. By automating these processes, Black Banx can process millions of transactions securely while maintaining profitability at scale. This level of efficiency is rare in fintech, where high growth often comes at the expense of margins.

Regional Expansion and Untapped Markets

Geography also plays a role in fueling revenues. Much of the Q2 growth came from Africa, South Asia, and Latin America—regions where demand for mobile-first banking continues to soar. In 2024 alone, Black Banx reported a 32% increase in SME clients from the Middle East and Africa, signaling the strength of its positioning in underserved markets.

By extending services to populations previously excluded from formal banking—migrant workers, rural communities, and small businesses—Black Banx taps into vast pools of latent demand. The strategy proves that financial inclusion and profitability are not mutually exclusive but mutually reinforcing.

Diversified Revenue Streams

Another factor behind Q2’s record revenues is Black Banx’s diversified business model. Income is not tied to a single service but spread across multiple streams, including:

Transaction fees from cross-border transfers and payments.
Crypto trading and exchange services.
Premium account features for high-net-worth clients.
Corporate services for SMEs and international businesses.

This diversification insulates the company against volatility in any single segment, creating stable revenue growth even in shifting market conditions.

Michael Gastauer’s Strategic Blueprint

Behind these results is Michael Gastauer’s long-term strategy: scale aggressively but with efficiency, innovation, and inclusion at the core. His vision has always been to create a borderless financial ecosystem, and Q2 2025’s performance is evidence that this vision is not only achievable but sustainable.

By balancing mass-market accessibility with premium features, and by blending fiat with digital assets, Gastauer has positioned Black Banx as a category-defining player in global finance.

The Road Ahead: Toward 100 Million Clients

Looking forward, the company’s goal of reaching 100 million customers by the end of 2025 will likely be the next catalyst for revenue growth. More customers mean more transactions, more data insights, and more opportunities to refine and expand its service offering.

If current momentum holds, the USD 4.3 billion quarterly revenue milestone could be just the beginning of an even larger growth story. The challenge will be ensuring systems scale securely while maintaining trust in an environment where privacy and compliance are paramount.

A Record That Signals More to Come

Black Banx’s Q2 2025 performance—USD 4.3 billion in revenue, USD 1.6 billion in pre-tax profit, 84 million clients worldwide, and a lean 63% cost-to-income ratio—is more than a financial milestone. It is a signal of how the future of banking is being rewritten by platforms that are borderless, crypto-inclusive, and data-driven.

What fueled this record-breaking quarter is not one innovation but a combination of strategies—scalable onboarding, real-time payments, crypto integration, AI efficiency, and expansion into underserved regions. Together, they form a model that doesn’t just challenge traditional banking but actively builds the foundation for global dominance.

For Black Banx, the road ahead is clear: the $4.3 billion quarter is not an endpoint but a launchpad for even greater scale and profitability.