“Increased activity in many markets is a good indicator of the level of confidence many investors have in the fintech industry,” said Piyush Singh, Managing Director at Accenture who leads its Financial Services practice in Asia-Pacific and Africa.
“Startups and the solutions they offer are maturing, which bodes well for traditional institutions partnering with fintechs and for innovation in the financial services industry as a whole,” he added.
Meanwhile, the number of fintech deals globally rose about 2% from the first half of 2018 (to 1,561). However, activity was mixed in the world’s largest markets. While the number of deals was flat in the U.S. and rose sharply in the U.K., China and India experienced volume declines of 49% and 21%, respectively.