McKinsey estimates that “today (there are) more than 2,000 start-ups offering traditional and new financial services. Globally, nearly $23 billion of venture capital and growth equity were deployed to FinTech over the past five years, with $12.2 billion deployed in 2014 alone.” Are new products developed within the FinTech space now poised to create disruption within the banking system?

Also from Mckinsey:

Blurred Lines: How Fintech is Shaping Financial Services

In March 2016, PwC released a groundbreaking report on FinTech. It estimated that “within the next 3-5 years, cumulative investment in FinTech globally could well exceed $150bn.” Among the report’s key messages: FinTech is shaping financial services from the outside in. Where traditional financial institutions have failed, FinTechs are succeeding. Disintermediation is FinTech’s most powerful weapon. And that over 20% of FS business at risk to FinTechs.