New report on the Value of FinTech
A new report ‘The Value of FinTech’, commissioned by the City of London Corporation and produced by KPMG, is guide to fintech and what it means for consumers, financial services and the wider economy.
Fintech has grown rapidly in recent years, driven by technological advancement, changing customer expectations, availability of funding and increasing support from governments and regulators.
This report builds on a range of sources including KPMG’s Pulse of Fintech and over 40 interviews with fintechs, incumbent financial services organisations, industry associations, government agencies and capital providers. Drawing on this data, the report provides examples of how fintechs enhance the role of financial services firms, including:
- Improving financial inclusion
- Enhancing customer experience
- Increasing transparency
- Improving security and compliance
- Providing support and guidance.
The Value of Fintech report highlights a number of suggested actions for the UK and the fintech industry, including securing a sector deal with the Government which will help drive fintech and improve financial services while making the UK and London a global destination for fintech. This will develop a single policy vision for Fintech, coordinate open standards, enhance regional engagement and support talent development and greater access to capital for Fintech businesses.
Click for the full Value of Fintech report.
