Have today’s Financial Services institutions misread the innovation landscape?
Since the launch of the first FinTech survey in 2016, the Financial Services sector has continued to see massive changes, driven by a new generation of start-ups in the sector, changing customer demands and new technologies. For today’s corporates, there’s a real risk they are overestimating the disruptive impact of these new players, and underestimating the transformation their current competitors are undertaking in this race to become a FinTech-enabled Financial Services company.
For the first time, our 2017 FinTech survey brings a local perspective to the FinTech revolution. We’ve surveyed some of New Zealand’s top Financial Services leaders, from banking, insurance, asset and wealth management, and from FinTech start-ups themselves. That breadth of responses has allowed us to create two reports – our in-depth findings on the state of FinTech for established companies, and a separate report for today’s start-ups in Financial Services. These findings provide the other side of the coin: a road map of the opportunities and challenges that today’s start-ups face as they mature.