Accounting Giant PwC Reports on the Status of Fintech in China

PwC has recently published a report on the status of Fintech in China, which happens to be the largest Fintech market in the world. According to PwC, areas like consumer banking will transition more and more to digital solutions and to that end these banks are investing heavily in Fintech. Chinese financial institutions are quick to purchase services or ink partnerships rather than acquire Fintech businesses, but this is expected to change, according to the survey. PwC states ”There is no stopping this shift (to Fintech innovation) and the companies that are agile and embrace change stand a chance to thrive.” CHF client Peak Positioning (PKK.CSE) is blazing a Fintech trail in China now. It is early days but business and financial institutions in China are signing up to take advantage of the Peak’s innovative fintech lending platform called Cubeler, a private fintech company in Canada that has sold Peak an exclusive licence to operate the fintech platform in China. Imagine a “match-making” type platform that connects businesses to financial institutions. Loans for everything from inventory purchase financing to new equipment financing can be sourced in a matter of minutes. These findings support Peak’s business plan to a tee. To read PwC’s article go here To link to Peak’s website go here