Collaboration not Competition By Lisa Joyce Valentine, contributing editor
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BANKING EXCHANGE
February/March 2017
F
intechs are multiplying like rabbits. Global investment in financial technology companies has tripled since 2014, according to Accenture’s Fintech’s Golden Age report. In first-quarter 2016, investment increased 67% over the same period the previous year, the report noted. McKinsey & Company estimates that there are 12,500 fintechs worldwide. In addition to an increase in the inf lux of capital, there’s been a marked change in the type of fintech investments from competitive to collaborative offerings. In 2010, 60% of all the investments in fintechs were directed toward competitive offerings versus 40% in 2015, says Robert Gach, capital markets
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Fintechs shift from “We will rock you” to “We need you”