Spark Labs Global Ventures published a research report titled "Fintech Industry Report 2016"

Spark Labs Global Ventures published a research report titled "Fintech Industry Report 2016 in May 2016.

Spark Labs propose that 3 Factors drive the emergence and growth of FinTech. 

There are three main factors from a consumer perspectives that led to the emergence of Fintech innovation and startups.

1. New ICT technologies (e.g. SNS, cloudcomputing and IoT) combined with the high adoption rate of smartphones allowed consumers to access high quality information that they were not able to find from traditional financial institutions.
2. Key customer groups, especially millennials, prefer conducting financial transactions via mobile over other avenues.
3. After the sub-prime financial crisis in 2008, both credibility and profitability of traditional financial institutions declined, which led to increased demand for alternative finance.

 Lastly, governments around the world started to recognize how the growth of the Fintech companies are creating new jobs and boosting economic growth. Thus, they started to take active roles in nurturing Fintech startups and lifting relevant regulations to spur innovation and growth in this new frontier.

  

The report can be viewed /downloaded at slideshare.

Spark Labs website is at  http://sparklabsglobal.com