3 PwC Global FinTech Report Introduction It is difficult to imagine a world without the internet or mobile FinTech is Figure 1: FinTech is a comple ecosstem devices. They have become core elements of our lifestyle and shaping FS from have brought a high degree of disruption to virtually every area of business. The financial services (FS) industry is no exception; the outside in C. Infrastructure the digital revolution is transforming the way customers players access financial products and services. Although the sector has experienced a degree of change in recent years, the constant Regulators and Emerging penetration of technology-driven applications in nearly every government technologies segment of FS is something new. At the intersection of finance and tools and technology lies a phenomenon that has been accelerating the pace of change at a remarkable rate and is reshaping the industry’s status quo – it is called FinTech. What is FinTech? comB. T FinTech is a dynamic segment at the intersection of the financial . FS paniesech services and technology sectors where technology-focused A titutions start-ups and new market entrants innovate the products ins and services currently provided by the traditional financial services industry. As such, FinTech is gaining significant momentum and causing disruption to the traditional value chain. In fact, funding of FinTech start-ups more than doubled in 2015 reaching $12.2bn, up from $5.6bn in 2014 based on Investors, the companies included on our DeNovo platform. Cutting-edge incubators and Consumers FinTech companies and new market activities are redrawing the accelerators and users competitive landscape, blurring the lines that define players in the FS sector (see Figure 1). D. Start-ups Source: ‚ƒ