Fintech funding could reach $150 bn in 3-5 years: PwC
Investment in fintech companies could rise to as much as US$150 billion over the next three to five years, according to PwC’s report ‘Blurred Lines: How fintech is shaping Financial Services’.
Funding of fintech sector more than doubled in 2015 to $12.2 billion, up from $5.6 billion a year ago, according to PwC’s DeNovo platform.
fintech isdefined as the segment that is at the intersection of the financial services and technology sectors, where technology-focused start-ups and new market entrants create innovative products and services that compete with those from the traditional financial services industry.
PwC estimates within the next 3-5 years cumulative global investment in fintech could well exceed $150billion. Financial institutions and tech companies are stepping over one another for a chance to get into the game.
“As the lines between traditional finance, technology firms and telecom companies are blurring, many innovative solutions are emerging,” said John Shipman, Asia fintech Leader, PwC.“There is no clear straightforward solution to navigate this fintech world.”
