
The Financial Services industry is facing a number of disruptive forces – ever-increasing customer demand for new innovative products and services, competition from financial technology (FinTech) companies, rising regulatory pressure, and increasing cyber security breaches.
Venture capital flowing to FinTechs in 2018 increased 120% to USD 39.6 billion.1 At that rate, competition in the financial services industry is expected to remain unusually intense.
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