Reports on fintech land is being released these weeks and the majority points to one thing, fintech is still growing. We have collected reports from EY, PwC and CB Insights who all look at different aspects of the fintech sector. Look below for each individual report and some key findings.
Ernst & Young has released their extensive ‘fintech adoption index’ for 2017 and the results are increasingly positive for fintechers.
The key findings overwhelmingly points towards increased adoption of fintech solutions by consumers across the globe. This trend is estimated to continue in the years to come.
- 33% is the average FinTech adoption globally, compared with 16% in our 2015 study.
- 46% is the average FinTech adoption across emerging markets: Brazil, China, India, Mexico and South Africa.
- 50% of consumers use FinTech money transfer and payments services, and 65% anticipate doing so in the future.
- 64% of FinTech users prefer using digital channels to manage all aspects of their life, compared with 38% non-users.
- 13% of consumers are regular users of five or more
PwC has just released their report on the fintech landscape: key trends, collaboration between incumbents and startups, and emerging technologies.
- 88% of incumbents are increasingly concerned they are losing revenue to innovators
- 77% of Financial Institutions will increase internal efforts to innovate
- 82% expect to increase FinTech partnerships in the next three to five years
- 30% of large Financial Institutions are investing in Artificial Intelligence
- 77% expect to adopt blockchain as part of an in production system or process by 2020
CB Insights – The Global Fintech Report Q2 2017 on deals and investor activity.
- Investment dollars to VC-backed fintech companies in 2017 are on pace to rise 19% from 2016, at the current run rate. Global fintech deal activity could surpass 2016’s all-time high if the rest of the year sustains H1’17’s deal pace.
- Q2’17 saw five new fintech unicorns Clover, Symphony, Robinhood, AvidXchange, and Tuandaiwang. North America leads with 15 fintech unicorns, followed by Asia with 7, and Europe with 4.
- In Q2’17, US VC-backed fintech companies raised twelve rounds of financing worth $50M+. Six of these companies, AvidXchange, Bright Health, Addepar, Clover, Robinhood, and R3 raised $100M+ each.