Are Kiwi firms blinded by fintech start-ups?

PwC has releaed its latest Global FinTech report, which shows that New Zealand companies may be too focused on fintech start-ups and ignoring other disruptors.

A full 100% of New Zealand respondents felt that the most disruptive force in financial services in the next five years would be start-ups, compared to a global average of 75%.

PwC said local companies seemed to be overestimating the impact of start-ups and underestimating the disruptive potential of themselves and their competitors.

“This makes me think that in five years we won’t be talking about fintechs any more,” said Andy Symons, financial services leader at PwC.