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UK FinTech turns to artificial intelligence as the market matures

According to the report ‘The Start-up View: A Year in FinTech’ from PwC and Startupbootcamp, a huge change in culture over the past year has been observed, and its potential to solve customer problems noted.

The report analysised application data from Startupbootcamp’s FinTech accelerator programme as well as the volume of deals in the UK FinTech market in 2016.

A key point of the survey included startups (16%) focusing on smarter and faster machines, such as Artificial Intelligence (AI) and machine learning. Another important point was that nine out of the Top 20 UK FinTech deals were completed post-Brexit, with a total investment of $368m. Additionally, the perception of FinTech is shifting from competition to collaboration while more incumbents are interested in working with FinTech companies.

Full report is available here

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