FinTech M&A is at record levels. The competition is fierce as incumbents battle to stay ahead of the curve as the financial services sector is undergoes a technology-driven metamorphosis. Highly-publicised security breaches, heightened regulatory oversight and obligations and more stringent capital requirements are forcing the industry to radically rethink its entire structure.However, these three challenges pale in comparison to the transformative power of technology. FinTech is fundamentally changing financial services. Nimble disruptors in the form of innovative start-ups have been joined by the world’s largest technology companies as they seek to take market share from incumbent financial services providers.