APAC Sees Groundswell of Fintech Investments, Outperforming North America
- China and Hong Kong have secured a huge portion of fintech investment relative to the APAC region in H1 2016.
London’s reign as an international Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term center is being threatened by the Asia-Pacific (APAC) Asia-Pacific (APAC) The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or Read this Term) region, which has managed to secure a groundswell of investment and seed funding during H1 2016 – to date, the region has garnered $9.6 billion more than twice the $4.26 billion invested in the region in all of 2015, according to data from Accenture.
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The APAC region has long since been the site of numerous global financial centers. However, relative to London or the US, the APAC region has outperformed its competition in H1, besting North America as a whole, which managed to see $4.58 billion in fintech investments over the same period. By extension, Europe managed $1.85 billion over H1, lagging well behind both North America and APAC.
China Fueling Growth
One of the main drivers of this trend has been the number of fintech companies in China, though deals volume lags well behind North America and Europe. However, funding in a few select companies in China has helped buoy investment trends overall – this was quantified at 192 fintech deals for APAC YTD, compared to 509 in North America, and 230 in Europe.
The destination for fintech funding is also not evenly distributed, with China and Hong Kong corporations soaking up 90% of all APAC investments, which totaled $8.75 billion in H1.
According to Beat Monnerat, Accenture’s Senior Managing Director, Financial Services Asia-Pacific, in a recent statement on the data: “China’s established companies, rather than nascent startups, are at the forefront of the fintech trend in the region. This is transforming China’s financial services industry and is consistent with the global ‘Fourth Industrial Revolution’, which is bringing innovation from non-traditional competitors to the financial services industry.”
London’s reign as an international Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term center is being threatened by the Asia-Pacific (APAC) Asia-Pacific (APAC) The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or Read this Term) region, which has managed to secure a groundswell of investment and seed funding during H1 2016 – to date, the region has garnered $9.6 billion more than twice the $4.26 billion invested in the region in all of 2015, according to data from Accenture.
Take the lead from today’s leaders. FM London Summit, 14-15 November, 2016. Register here!
The APAC region has long since been the site of numerous global financial centers. However, relative to London or the US, the APAC region has outperformed its competition in H1, besting North America as a whole, which managed to see $4.58 billion in fintech investments over the same period. By extension, Europe managed $1.85 billion over H1, lagging well behind both North America and APAC.
China Fueling Growth
One of the main drivers of this trend has been the number of fintech companies in China, though deals volume lags well behind North America and Europe. However, funding in a few select companies in China has helped buoy investment trends overall – this was quantified at 192 fintech deals for APAC YTD, compared to 509 in North America, and 230 in Europe.
The destination for fintech funding is also not evenly distributed, with China and Hong Kong corporations soaking up 90% of all APAC investments, which totaled $8.75 billion in H1.
According to Beat Monnerat, Accenture’s Senior Managing Director, Financial Services Asia-Pacific, in a recent statement on the data: “China’s established companies, rather than nascent startups, are at the forefront of the fintech trend in the region. This is transforming China’s financial services industry and is consistent with the global ‘Fourth Industrial Revolution’, which is bringing innovation from non-traditional competitors to the financial services industry.”