How Singapore’s financial institutions are turning a threat into opportunity

SINGAPORE (April 6): In line with the global trend, 88% of respondents from Singapore’s financial institutions this year see financial technology (fintech) as a real threat to their revenue as compared to just 73% in 2016, according to a new report by PricewaterhouseCoopers (PwC).

Redrawing the lines: FinTech’s growing influence on Financial Services draws on PwC’s 2017 Global FinTech Survey, which is based on the responses of 1,308 participants globally.

Survey participants principally comprised CEOs, heads of departments, heads of innovation, and heads of IT/ digital/technology from 71 countries spread across six regions including Singapore, where there were 40 respondents from a variety of industries including banking, insurance and fintech.

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