23 PwC Global FinTech Report Our survey supports this notion. Among the respondents that Figure 1€: FinTech at heart – b in ustr regard themselves as fully customer-centric, 77% put FinTech at the heart of their strategy, while among respondents that Please indicate to what extent you agree or disagree with the following statement: see themselves as only slightly customer-centric, only 27% put “My organisation has put FinTech at the heart of its strategy.” FinTech at the same level. A smaller but still significant share of respondents disagrees with putting FinTech at the heart of ™ 1™ ™ their strategy (13%) (see Figure 14). This might be a business ™ risk in the long run, as firms that do not recognise the impact of ™ 1™ FinTech will face fierce competition from new entrants. As rivals „™ 1ƒ™ 1†™ become more innovative, incumbents might run the risk of being surpassed in their core business strengths. 11™ 1€™ The share of respondents from fund transfer and payments 1†™ „™ 1™ organisations that want to put FinTech at the heart of their strategy exceeds 80% (see Figure 15), a high proportion 2™ compared to other sectors. At the other extreme are insurance 1€™ and asset and wealth management companies, where respectively, only 43% and 45% of respondents consider FinTech ™ to be a core element of their strategy. 1™ 2™ €™ 22™ 1„™ 1™ Fund transfer and ‡anˆs A‘ Ž —‘ Insurance companies payment institutions companies n Agree n Someƒhat agree n ­either’nor n Someƒhat disagree n isagree n o not ˆnoƒ Source: ‚ƒ …oa FinTech Sur€ey 21†