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It May Be Another Record Year in China for Fintech, Accenture Says

  • ‘Blockbuster deals’ drove investments $10 billion in 2016
  • Traditional financial giants will move to catch up: Accenture

Chinese financial-technology investments this year may exceed 2016’s record $10 billion as companies continue to raise funds for expansion and big banks grow their digital services, according to Accenture Plc.

The country’s financial-services giants will probably ramp up investments in areas including artificial intelligence, blockchain, so-called big data and cyber-security to improve their product offerings, Albert Chan, managing director of China financial services at Accenture, said in an interview last week. More money will go into technology such as robo advisors, online lending and investment services, he said.