Blurred lines: How FinTech is shaping Financial Services - 2016
Assessing the rise of new technologies in the financial services (FS) sector and their impact on market players.
FinTech is a major disruptor in the financial services industry. Businesses are facing sweeping technological changes that will profoundly affect the way financial services market players do business.
PwC’s FinTech team helps financial service clients understand the emerging technology and disruption competitive landscape, analyse the impact on business and integrate innovations into their business.
Financial institutions, like all other customer centric businesses, must respond faster to innovation. Many institutions have implemented initiatives or even launched dedicated labs to drive innovation. In our experience, however, such efforts alone may fail to deliver significant business results.
PwC helps banks, insurance and other financial services firms understand, assess and act on these changing industry dynamics. We work with clients to analyse the impacts to their value chain, shifting customer behaviours, evolving distribution channels, changing regulatory environment, new products and services, and the overall competitive landscape and we help clients integrate these innovations into their businesses.
Our clients come to us because of our people and knowledge of the industry. They gain access to a team of experts who have worked in the FinTech industry in Australia and internationally. We focus on anticipating and understanding developments and opportunities both domestically and offshore. We create value in our clients’ businesses by advising on how to maximise those opportunities and integrate innovation into their business.
PwC works with both established players and FinTech startups by offering the following:
• DeNovo Platform - Understand the evolving ecosystem of FinTech innovators
• Blockchain – Learn about how you can leverage the blockchain for your business
• @scale – Partnering with innovators and disruptors to provide targeted solutions and bridge the gap between industry players and emerging innovators
PwC's Asia Pac Lead, John Shipman shares his insights on how FinTech is shaping, transforming and disrupting Financial Services.