Global FinTech Report 2017
In its recently published Global FinTech Report 2017, PwC provides the results of a survey based on the responses of over 1,300 participants involved in the financial services industry from 71 countries and across six regions. Respondents included CEOs, directors, heads of department and other top management.
Key messages include:
- 88% of incumbents are increasingly concerned they are losing revenue to innovators
- 77% of financial institutions will increase internal efforts to innovate and 82% expect to increase FinTech partnerships in the next three to five years
- 77% expect to adopt blockchain in some way by 2020
- 54% of incumbents see data storage, privacy and protection as the main regulatory barrier to innovation
- 30% of large institutions are investing in artificial intelligence