Proof Point
Workplace differences and regulatory uncertainties identified as common challenges in financial incumbent and fintech company partnerships
Top Challenges for Financial Incumbents and FinTech Companies Partnerships
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
- Incumbent Security Concern – IT security (58%) top challenge financial intuitions have when working with fintech companies, followed by regulatory uncertainty and management and cultural differences
- Workplace Differences – Fintech companies most common concerns involve aligning agile innovation and non-bureaucratic culture with traditional institutions
- Key Growth Drivers – Include proliferation of fintech startups, growing adoption of digital banking technologies, and accelerating trend of innovation partnerships
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Market Disruption |
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Business Model and Practices Business Model |
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Sector |
Financial Services
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Source |
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Date Last Updated |
August 22, 2017
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