In 2019, the insurance industry saved approximately $300 billion due to the Fintech technology. That number is projected to rise to $1.3 billion by 2023. (Juniper Research)
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“FinTech is not only an enabler but the driving engine” – Pierre Gramegna
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“Ignoring technological change in a financial system based upon technology is like a mouse starving to death because someone moved their cheese” – Chris Skinner
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The market for artificial intelligence in Fintech should experience fantastic growth in the coming years. The CAGR for this sector in the 2019-2025 period should be 23.37%. (Business Wire)
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A huge chunk of incumbent financial institutions (88%) believe that part of their business will be lost to standalone Fintech companies in the next five years. (PWC)
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