They also expect payments revenues to be about $140 billion lower than one year ago. Europe's fintech sector faces an "existential crisis", says McKinsey, as sources of funding dry up during the ongoing Covid pandemic. According to McKinsey, banks only set aside 35% of their IT budgets to innovation and reinventing strategies, whereas fintech players spend more than … Its a good read with some fascinating information, so i thought i would share my quick notes. Top 5 Fintech Trends That Will Shape Financial Markets in 2021 ... A McKinsey study showed that digital payment is one of the biggest fintech … Almost 80% of financial institutions have entered into fintech partnerships (A McKinsey report). A report into fintech trends last month by McKinsey – Synergy and disruption: Ten trends shaping fintech – caught my attention on the train this morning. The fintech report of McKinsey describes the trends in the financial technology industry and focuses in particular on the investment potential. The Trends Driving Digitalisation in Corporate Banking. The annual McKinsey report 1 states that global revenues actually declined in the payments sector for the first six months of 2020, when compared to the same period in 2019. With that in mind, here are three fintech … According to McKinsey & Company, ... Technology will be a crucial player in all three 2021 finance trends, and we’ll see fintech automation become a strategic imperative in year two. European fintech firms are facing an "existential crisis" as venture-capital funding has dropped from "surplus to scarcity," a McKinsey study found.. Travel, retail, hospitality, and fitness were some of the industries hit hardest by the pandemic. As McKinsey & Company put it, we are now in "The Next Normal," an era of pandemic-driven rapid change. The Fintech Wave In Education. Economies in … Recent analysis by McKinsey & Company indicated 80% of traditional financial institutions have already developed new emerging tech initiatives in 2019 (think voice, VR, AR, AI and DLT).What’s equally awesome is the fact that new fintech investments are set to … McKinsey concluded in the paper titled «Synergy and disruption: Ten trends shaping fintech» that investors have to look particularly carefully at the firms before taking a stake.