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Tribune News Network
Doha
The global fintech market saw a total investment of $3.2 billion across 260 deals in the first quarter of 2017, KPMG International has said in its quarterly report on fintech investment.
"In the US, the UK, China and other jurisdictions, fintech investors are starting to focus more on performance and return on investment than ever before, pressuring fintechs to demonstrate scalability and a clearer path to profitability," said Ian Pollari, global co-leader of fintech at KPMG International.
"At the same time, we're seeing new fintech companies popping up in places you might not expect like Poland and Slovakia under-scoring fintech's global diversity," Pollari said.
Commenting on the report, Omar Mahmood, partner and head of financial services at KPMG in Qatar, said,"There has been a significant push to promote Qatar as a regional fintech hub. Qatar offers the right regulatory environment, extremely competitive operating costs, government support, funding support and a ready financial services sector to work with. We do see a lot of potential of fintech companies collaborating with financial services players to transform the financial services sector in Qatar and the region."
He added,"We are also shortly launching a fintech survey with businesses in the financial services sector in Qatar which will benchmark the fintech strategies and readiness of Qatar based financial institutions with the rest of the world."
