FinTech payment startups least likely to get acquired by banks
Financial technology startups shaking up the payments industry are least likely to be acquired by established banks, despite the increasing efforts by financial institutions to become more innovative.
The most likely end-game for a successful startup developing innovative new ways for making payments in the rocketing FinTech sector is being acquired by a major technology firm such as Apple and Google.
FinTech firms are disrupting across the payment spectrum, including remittance, online and in store retail, peer-to-peer, b2b and mobile payments.
Startups are the biggest driver of innovation in these areas, according to the leaders, followed by technology giants with ambitions to move into the sector, while just 2.5 per cent said banks were the biggest innovation driver.