KPMG: fintech firms ramping up efforts in big data

Big data, comprehensive finance and insurance technologies ranked among the top three financial technologies in terms of the number of related companies featuring in KPMG's 2018 China Fintech 50 list, issued on Friday.

"During our survey on fintech companies, we found that the financial sector has stepped up the promotion of big data technologies in China, as big data analytics has gained wide recognition regarding its capabilities to increase financial productivity," said Arthur Wang, partner and head of banking at KPMG China.

Software platforms that provide cloud services have emerged, offering flexible and highly efficient automatic or semi-automatic big data instruments, in addition to the companies that focus on providing risk management, marketing and management services to enterprises and financial institutions based on a large collection of data, said Wang.