‘There’s no silver bullet here’: Global financial firms still grappling with fintech challenge, report finds

Only 46 per cent of global financial firms have a strategy in place to address new financial technologies that are disrupting traditional business lines, according to a report from KPMG.

The report, which surveyed more than 160 financial institutions in 36 countries, found that an additional 42 per cent say such a strategy is “in development.”

“There is still work to be done,” said Ian Pollari, global co-leader of fintech at KPMG International.

Pollari said the leading firms in...

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