The Voice of Canadian Credit Unions

Time Machine: The rise of FinTech

[May 2013]

It was just three years ago that Enterprise first delved into the world of FinTech, publishing the article, “What’s next in FinTech?” Here’s an excerpt:

business hand clicking fintech or financial technology button

Annual global spending on information technology or IT (hardware, software and services) in the finance industry sector is second among all other sectors, according to IT research firm Gartner. Banking and securities companies spent $445 billion in 2012, behind only manufacturing and natural resources at $467 billion.

 

In its 2016 worldwide IT spending forecast, Gartner estimates FinTech spending to be $3.41 trillion.