A new report says that U.S. banks and corporations have outpaced every other country in global investments in FinTech over the past few years. Investments in the country have nearly tripled, supporting startups through the launch of competitions, accelerators and incubators, helping new businesses to seek potential partners and investments.
According to the report released by Accenture and entitled “The Future of Fintech and Banking,” global investments in FinTech tripled to US$12.21 billion in 2014, as investments in financial technologies like Bitcoin and online lending platforms grew by more than doubled at 200%.
A recent report published by CB insights also found that most investments were made by U.S. corporations and venture capital firms, totaling up to US$1.1 billion in Q1 and Q2 of 2015.
Robert Gach, managing director of Accenture Strategy Capital Markets, said:
“An increasing number of [U.S.] banks and insurers are investing in connecting into the FinTech ecosystem, whether through accelerator or incubator labs, venture investments or in other ways. We believe this explosive growth in FinTech will help drive innovation within some of the world’s largest financial institutions.”
The graph of global FinTech financing activity shown above was