Big deals push financial tech to the fore

A wave of blockbuster deals in China has driven global investment in fintech, according to a study by consultancy Accenture.

Fintech financing in the Asia-Pacific region eclipsed that of North America for the first time in 2016, more than doubling to $11.2 billion. Globally the amount grew by 10 percent to $23.2 billion.

Growth in the total value of fintech investments was due mainly to the Chinese mainland and Hong Kong, where just 3 percent of all 1,800 deals accounted for nearly 43 percent of total fintech investment globally.