A recent Accenture study reports a whopping $5.4 billion investment in global Fintech companies for the first quarter of 2016. The numbers show a 67% increase over the same period last year. The Q1 2016 growth was in large part driven by investments going to Europe and the Asia-Pacific, which nearly doubled to 62%. Global Fintech investment overall grew 75% in 2015, exceeding $22 billion in funding.

Given last year’s surge of Fintech investment (FinTech was one of Investopedia’s Top 10 Terms of 2015), we can assume that the industry will continue to grow exponentially as finances move to the digital space, while machine learning, algorithms, and big data take the place of traditional finance teams.

Global Fintech Investment Reported at its Peak

“The drive for fintech innovation is spreading well beyond traditional tech hubs,” stated Richard Lumb, head of Accenture’s Financial Services group. Lumb refers to a “Fourth Industrial Revolution” which leverages new frontiers such as robotics, blockchain and the Internet of Things to transcend the limits of geographical boundaries. With this technological advancement, Fintech startups can scale globally with greater ease in adopting the latest improved and more efficient capabilities. Due to the clear benefits of Fintech disruption, startups have competed head-on with traditional financial services, or worked together with them, forming partnerships and even being acquired by Big Banks and traditional investment firms. (For related reading, see: Fintech Outlook Positive for 2016.)

The Bottom Line

Whether Fintech players enter the market by competing head-on with traditional financial institutions or by forming strategic ventures with the older players, it’s clear that the Fintech revolution isn’t slowing down anytime soon. As a recent Accenture study reports a $5.4 billion Fintech investment in Q1, we can expect the “Fourth Industrial Revolution” to continue to disrupt financial markets, increasing efficiency at lower costs across the globe. (Also, see: 10 FinTech Companies to Watch in 2016.)