According to a study by Reed Smith and Mergermarket, 94% of banks and financial institutions are planning two or more fintech acquisitions in the next 12 months.
“There isn’t a significant financial services institution that isn’t already either a consumer or developer of fintech,” said Herb Kozlov, a partner at Reed Smith. “I think it’s on the radar of every major institution because they’re at a competitive disadvantage if they’re not as well positioned as their competitors to adopt new technologies.”
Banks and financial institutions are even more bullish on fundraising for fintech firms than their counterparts and Venture Capital and Private Equity firms, according to the study.
- As Predicted, the Economy is Strong But Auto Loan Delinquency Rates are at Record Highs
- Bitcoin “ATMs” Come to Nevada and Arizona
- Ned Davis Research Points to Another Potential Tactic for the Federal Reserve
- Belgium, Netherlands Customers Top Charts for Mobile Banking: Could Fintech Threaten Market Share?
- Combat the Hidden Costs of Fraud by Tackling Client Experience