Corporate treasurers are spending more on fintech
A new report from East & Partners shows corporate treasurers from the highest revenue-ranked corporations are investing more in fintech.
Business research firm East & Partners has found corporate treasurers in the UK, Asia and Australia are ramping up their fintech investments. The results came from the Treasury Fintech Index, developed by East & Partners and Contentive Media, and is based on direct interviews with corporate treasurers in eight key global markets.
In the UK, treasurers are forecasting a 14.5% increase in their fintech spend for the coming year, while Australia and Singapore are following closely behind with a planned 12.2% increase.
East & Partners Australia head of markets analysis Martin Smith says the research shows a “two-pronged approach” which will hasten innovation.
“The research confirms not only are corporate treasurers targets for fintech innovation, but they are directly embedding themselves in the strategic direction of fintech firms themselves by providing direct investment and funding,” he said.
The Index also found that corporate treasurers are reporting that their companies are directly investing in fintech, with Asia leading in these numbers. Nearly one-third of treasurers in China report their company has already invested in fintech, while over 40% are exploring fintech investment opportunities.
In Australia, 17.6% of corporate treasurers have directly invested in fintechs, while 24.2% are looking at opportunities for investment in the fintech space.
Paul Dowling, principal analyst at East & Partners and one of the report authors, said the results reveal some key global indicators.
“The adoption of fintech by the treasury function of leading global corporates is clearly underway, led by the UK and Singapore but with China set to catch-up with the investments it’s directly making in these technologies.”
“What’s surprising is the US’s ranking in the adoption of fintech, languishing behind virtually all of these other global players”.
East & Partners produced the index in partnership with fellow business research company Contentive Media based on direct interviews with treasurers across Australia, China, France, Germany, Hong Kong, Singapore, the UK and the US.
Source: Corporate treasurers are spending more on fintech | finder.com.au
