80% of financial firms feel threatened by fintech

They’re afraid of losing revenues to these innovators.

Traditional financial firms are having fears that fintech companies are going to capture their revenues, a study by PwC revealed.

Whilst 80% of financial firms are concerned that their business will lose revenues to standalone innovators, more than 4 in 5 plan to increase fintech partnerships.

PwC Singapore fintech and financial services leader Antony Eldridge said there have been established financial institutions investing in innovation for some time now.

"What is unique in Singapore is the regulator’s progressive approach which is helping to nurture FinTech growth by providing a conducive ecosystem. The introduction of regulatory sandboxes is a prime example of how the regulators here are creating an environment where new technologies can be experimented while minimising risks to consumers," he noted.

The study found out that when it comes to traditional companies, regulatory uncertainty is the major challenge. On the fintech companies' side, differences in management and culture are the top concern.

Check out the infographic below to see major humps financial and fintech firms in Singapore face when they collaborate:

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia