A Perspective on FinTech Submitted By- Section - B Group - 4 AMBATI GIRIDHAR RAVIKUMAR (2016PGP049) PRIYANKA MOHANTA (2016PGP288) RANSOTH NIKHIL RAJ (2016PGP307) RISHABH SAINI (2013IPM069) SWAGATIKA SAHU (2012IPM112)

INTRODUCTION Financial services sector can be broadly classified into four industries: Banking Insurance Wealth Management Payments FinTech: FinTech refers to innovative financial services or products delivered via new technology We would be discussing the following w.r.t FinTech Evolution of FinTech Drivers for FinTech FinTech in Insurance industry FinTech in Banking industry FinTech: Collaborators not Competitors Future of FinTech

Investments in FinTech FinTech products and services are continuously being invented. Global investment in financial technology (FinTech) ventures in the first quarter of 2016 reached $5.3 billion, a 67% increase over the same period last year This FinTech Investment growth in 2016 was mainly driven by Europe and Asia https://newsroom.accenture.com/news/global-fintech-investment-growth-continues-in-2016-driven-by-europe-and-asia-accenture-study-finds.htm

Drivers of FinTech Drivers for FinTech Increasing Customer Expectations Increasing Competition Digitization Complex Regulations Developments in Artificial Intelligence and IoT https://www.i-scoop.eu/fintech/fintech-drivers-facts-analysis-world-retail-banking-report-2016/

Financial Advice/ Suggesting Policies FinTech in Insurance Following are the areas/processes in insurance industry which could be transformed by leveraging products and services provided by FinTech InsurTech Customer Experience Underwriting Claims Management Financial Advice/ Suggesting Policies

Payments and Wealth Management FinTech in Banking Following are the areas/processes in banking industry which could be transformed by leveraging products and services provided by FinTech FinTech in Banking Consumer Banking Funds Transfer Payments and Wealth Management http://zafin.com/fintech-future-banking-solutions-2016-pwcs-findings/ https://www.goodcall.com/personal-finance/fintech/

FinTech: Collaborators not Competitors Following are the ways in which Financial service providers are collaborating with FinTech firms Types of Collaboration Partnerships Mergers and Acquisitions VC Funding http://pwc.blogs.com/fintech/2016/08/banks-collaborate-with-fintechs-rather-than-viewing-them-as-competition.html

Openness and Innovation Future of FinTech Future of FinTech Collaboration Openness and Innovation Investments https://www.accenture.com/sg-en/insight-future-fintech-banking