In Q1 2017:
1. Global VC-backed Fintech startups raised $2.7 Billion across 226 deals.
2. Asian VC-backed Fintech startups raised $826 Million across 42 deals.
3. European VC-backed Fintech startups raised $667 MILLION across 73 deals.
4. US VC-backed Fintech startups raised $1.1 Billion across 90 deals (CBInsights Global Fintech Report).
Artificial Intelligence (AI):
7. 30% of large Financial Institutions are investing in Artificial Intelligence (AI) (PwC Fintech Report).
8. By 2020, Artificial Intelligence (AI) will also automate a considerable amount of underwriting, especially in mature markets where data is readily available (PwC Technology 2020 Report).
9. In 2017 $60 billion worth of payments will be made on mobile platforms (TechCrunch).
10. By 2019, eMarketer estimates that the total value of transactions made by tapping a phone on an in-store terminal will reach $210 Billion, up from $8.7 Billion in 2015.
11. By 2020, 90% of smartphone users will have made a mobile payment (TechCrunch).
12. 77% of the Financial Services incumbents surveyed expect to adopt blockchain as part of an in-production system or process by 2020 (PwC Fintech Report).
13. In the next three to five years, we see transaction volumes and the associated profit pools shifting from intermediaries toward the owners of new highly efficient blockchain platforms (PwC Technology 2020 Report).
14. 75% of banks, surveyed by PwC, are making investments in adopting customer-centric business models (this pattern is consistent globally).
15. By 2020, core service infrastructures in areas such as consumer payments, credit scoring, and statements and billings for asset managers basic current account functions will be well on the way to becoming utilities.
Cryptocurrency: (Source: Cambridge Cryptocurrency Report)
16. The total cryptocurrency market capitalisation has increased more than 3 times since early 2016, reaching nearly $25 Billion in March 2017.
17. The estimated number of unique active users of cryptocurrency wallets has grown significantly since 2013 to between 2.9 million and 5.8 million today.
18. The number of active wallets is thus estimated to have increased from between 0.6
million and 2.6 million in 2013 to currently between 5.8 million and 11.5 million in 2017.
19. 63% of insurance CEOs believe that the Internet of Things (IoT) will be strategically important to their organisation (PwC Technology 2020 Report).
Regulation Technology (Regtech):
20. The global demand for regulatory, compliance and governance software is expected to reach USD 118.7 Billion by 2020 (Source).
21. Partnering with Fintech companies is up from 32% in 2016 to 45% this year on average (PwC Fintech Report).
22. Incumbents are becoming more aware of the disruptive nature of Fintech, shown well by the fact that, in 2017, 82% of North American participants believe that business is at risk, up from 69% in 2016 (PwC Fintech Report).
Neeraj is a Digital Marketer who has worked with startups belonging to various industries. He has also managed a digital agency in the past. He was born and brought up in India and has an educational background in Polymer Engineering. You can connect with him on Twitter here @NeerajT4.