Financial technology in the Asia-Pacific surpassed the U.S. as investments in the area doubled to $11.2bn in 2016 from $5.2bn in 2015, a report from Accenture found.

Global investment in financial technology grew by 10 per cent to $23.2bn in 2016, largely driven by growth in China. North America raised $9.2bn in financing, while Europe attracted $2.4bn. The total was due mainly to a few megadeals in China and Hong Kong, which accounted for 43 per cent of total investment globally.