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Financial institutions fear losing revenue to fintechs: PwC survey

90 per cent of respondents expect to grow fintech tie-ups over the next three to five years

Claudia Chong

Claudia Chong

Published Wed, Apr 5, 2017 · 09:50 PM
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Singapore

FINANCIAL institutions (FIs) in Singapore are feeling the heat from the rise of fintech firms, a survey by PwC has found.

The poll, the findings of which were released on Thursday morning,found that 80 per cent of Singapore FIs are concerned about losing revenue to standalone fintech companies, up seven percentage points from last year.

Globally, 88 per cent of FIs have expressed this as a concern, up from 83 per cent a year ago.

PwC surveyed 1,308 senior management individuals from 71 countries across a variet…

KEYWORDS IN THIS ARTICLE

Fintech
Financial institutions

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