Big banks may have scoffed when a gaggle of financial technology upstarts promised to reinvent their business. Now they want to buy them.
Almost 50 percent of financial services firms around the world plan to acquire fintech startups in the three to five years, according to a report Thursday by PricewaterhouseCoopers LLP. And eight out of 10 institutions foresee making strategic partnerships with peer-to-peer lenders, digital money transfer platforms, and myriad other firms that are reshaping the business of money.
Discover the Bloomberg article here.