PwC has recently released its Global Fintech Report, which looks at how FinTech is changing the Financial Services (FS) industry from the outside in, and how different organisations can and should respond to its challenges.
FinTech is a digital arena where diverse players – traditional financial institutions, technology firms, e-commerce and telecommunications companies, start-ups and infrastructure operators – are contending with a common imperative: to respond effectively to the evolving needs of their customers.
PwC estimates within the next 3-5 years, cumulative investment in FinTech globally could well exceed US$150bn, and financial institutions and tech companies are stepping over one another for a chance to get into the game.
The result is a new competitive landscape and playing field.
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