Big banks say they want to invest in fintech. But which are the ones actually putting their money on it? Well according to a report by CB Insights, of the ten bulge bracket banks, that would be Goldman Sachs.
Based on the new report by CB Insights, which looked at top bulge bracket budget banks, Goldman Sachs, Credit Suisse and JPMorgan are three most active banks when it comes to M&A activity in the fintech space, while the largest fintech investors are Citibank, and again JPMorgan and GS. As for patents, well, in this aspect Bank of America is the winner as the most active patent filer, which comes as no surprise given its recent blockchain technology-related filings.
In terms of investment, the report showed that each of these banks has a preference within the fintech area. For instance, the report shows that JPMorgan (particularly of late), has been focused on payments, while Citi, the top investor in fintech among the banks, has moved beyond fintech into other areas like security and e-commerce. Goldman Sachs has been focused on lending (hello Marcus), and even regtech, according to the report.
Check out the graph of investments by the bulge bracket banks from 2013 through 2017:
Read the full report here.
To learn more about fintech investment, join us on March 5-6, 2018 at Bank Innovation 2018 at Parc 55 in San Francisco. Click here to request an invitation.