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Home Business Pwc-study: Fewer Acquisitions, and bankruptcies in financial Start-ups

Pwc-study: Fewer Acquisitions, and bankruptcies in financial Start-ups

Pwc Study
Less Takeovers and bankruptcies in financial Start-ups

The strong Selection among the Start-ups – the so-called Fintechs – was slowed for the time being, says a study by the accounting firm PwC. Photo: picture alliance / Boris Roessler/dpa

© dpa-infocom GmbH

Young financial companies want to the Bank of the world cheer. In recent years, the industry experienced a strong Selection. But apparently now, for the time being to a Standstill. Another Trend in the industry is unbroken.

In spite of the Corona-crisis, young Finance are gone companies through bankruptcies and Acquisitions from the market.

The strong Selection among the Start-ups – the so-called Fintechs – was slowed for the time being, says a study by the accounting firm PwC.

In the first nine months of the year, there were settings accordingly, 26 Business, in the whole of the previous year there were 57. Some great Fintechs would have had in the crisis, a lot of money from investors, said Meyer. “They are now established names in the financial industry and according to crisis.” Start-UPS and young companies to help in addition, the relaxation of bankruptcy laws in the Corona-crisis.

In the first nine months of 20 financial Start, were acquired-ups, shows the paper, which is present the German press Agency. For the full year, 26 Fintech would result as projected Acquisitions, a decrease compared to the record value of 31 in the year 2019.

“The Corona-crisis has led to the beginning of the year, too much uncertainty at the company,” said Sven Meyer, Fintech expert at PwC. The takeover wave was flattened. Since the digitization of the Corona-have gained a crisis, even more important, he said, but likely to be a temporary effect.

In the past years, there had been a series of Takeovers, since many Fintechs were competitors final. In addition, banks, IT companies and insurer financial bought Start-ups or involved in them, to get under the pressure of digitization, fresh ideas into his own house. At the same time, many young financial not to abandon the company because their ideas were.

Financial Start-ups want to do with intuitive technology Transfers, Savings, loans or insurance faster and more convenient. Quickly they were traded as a risk for banks. Recently, however, revealed that only a few enforce it – typical for a young industry.

Among the most successful Fintechs about interest portals will be able to compare, the investors, the terms and conditions of many banks and money easier to profitable create. Also some of money system robot assets to invest in automated broad at the exchange, and the Smartphone-banks has grown considerably. The Berlin-based Online Bank, N26 collected in may in a funding round 92 million euros from investors.

The declining importance of Bank branches in favour of online banking is already evidence for years, numerous studies of different Clients. The most recent study is a representative survey of the comparison portal Verivox among 1005 people in Germany between 18 and 69 years of age, which is present the German press Agency and the newspaper “Süddeutsche Zeitung” had first been reported.

Thus, 6 percent of the respondents have never been in a Bank branch by an employee to advise or to operate, 35 percent last more than a year ago. More than a quarter (27 per cent), logs on daily to the online banking account, and a further 55 per cent at least once per week. The Coronavirus has according to the survey, the Trend is growing: 28% use online banking today, more often than before the outbreak of the pandemic.

dpa
Matthew Velter
Matthew Velterhttps://etrendystock.com/
With 5 years of experience as an editor, Matthew has been a crucial part of eTrendy Stock since its inception. He looks after the editing of news content published on eTrendy Stock. Apart from investing his time in editing, he also provides well-researched news articles for the U.S. niche. Mathew studied at University of central Florida.

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