Proof Point
Financial institutions foresee opportunities as well as threats from both competing and partnering with emerging fintech companies
Financial Institution Opportunities and Threats from New Market Entrants
2016 (percentage)
| Note: | Data from PwC’s 2016 Global Fintech Survey of 544 participants involved in strategy and innovation from 46 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
- Significant Growth Opportunities – Cost reduction (73%) and differentiation (62%) top list of opportunities financial institutions see from rise of fintech, achievable through acquisitions and partnerships with new market entrants
- Pressure and Loss Threats – Incumbents also becoming increasingly concerned with threats from emerging fintech companies, such as margin pressure (67%) and market share loss (59%)
- Key Growth Drivers – Include proliferation of fintech services, growing adoption of digital banking technologies, emergence of partnerships between startups and incumbents, 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 27, 2017
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