Proof Point
PwC reports that more than 80% of financial incumbents globally believe that business is at risk to FinTech companies in next five years
Incumbents Who Believe Business Is at Risk to FinTech Companies in Next Five Years
2017 (percentage)
| Note: | Data from PwC’s 2017 Global Fintech Survey of 1,308 participants involved in strategy and innovation from 71 countries across six regions |
Proof Point Findings
- FinTech – Use of digital technologies and innovation to support, enable or provide alternatives to traditional banking and financial services, such as mobile wallet, contactless NFC technology, and cryptocurrency
- Global Disruptive Threat – 88% of global incumbents believe their businesses are at risk of losing to standalone fintech companies in next five years
- Latin America Highest Concern – Highest level of concern found in Latin America, where 93% of companies stated they will lose to fintech companies
- Key Growth Drivers – Include proliferation of fintech startups offering alternatives to traditional banking services, rapid pace of technological advancements, growing adoption of digital banking technologies, and rising consumer preference for faster, easier, and more convenient digital transactions
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Accelerator |
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Market Disruption |
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Sector |
Financial Services
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Source |
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Date Last Updated |
August 13, 2017
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