Statistics gathered over the past months have shown significant changes in the way fintech is perceived by the public, with evidence pointing towards growing trust and adoption of new forms of services and authentication. Meanwhile, incumbents still show signs of skepticism towards the potential of fintech as force for change. Political instability also seems to have taken its toll on the confidence of American and European investors resulting in a drop in deals.
1.Q3’16 saw overall VC-backed fintech funding drop 17 percent to US$2.4 billion, while deal activity fell 12 percent to 178 deals. (KPMG)
2. Only 44% of incumbents’ executives are “very confident” about building a strategy responding to the shifting trends catalysed by fintechs (CapGemini)
3. 17.4% of customers using investment management services say they rely solely on fintechs and 27.4% use them alongside their traditional providers (CapGemini)
4. Only 20% of big banks believe that fintech firms represent a genuine competitive threat (IDC Insights & SAP)
5. 54% of customers globally are interested in using their fingerprint to make purchases (Foresight Factory)