The US is leading the world in fintech investing.
Have a look at the chart, provided to Business Insider by Accenture and the Partnership Fund for New York City.
The rate of the value of startup financings rose nearly 200% from 2013 to 2014, substantially outpacing growth elsewhere in the VC market.
This might not come as a surprise. From Bank of America to Wells Fargo to Capital One, big Wall Street firms are out to defend themselves from an army of startups looking to capture their business.
The largest percentage of the investments being made by big banks are going into the payments portion of the fintech sector.
Big rounds were closed for payments startups including Stripe and Square last year, the report notes. But there are plenty other of deals in the payments space that captured both banks’ investment dollars, as well as top venture firms.
There are plenty of lending startups getting funding, as well. Banks aren’t able to lend as much as they were pre-crisis and in recent years startups have emerged to take on student loans and other types of financing.
The graphic below illustrates what kinds of companies in the US received how much in 2014.
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