In five years we won't be talking about fintechs anymore, according to a report from PwC NZ. This assertion was in stark contrast to other advice being handed down during the AFR Banking & Wealth Summit operations. "Today's companies are too focused on start-ups at the expense of other potential sources of disruption," reveals the New Zealand PwC Global FinTech Report.All of the New Zealand respondents to the global fintech survey felt that the most disruptive force in financial services in the next five years would be start-ups, compared to a worldwide average of 75 per cent. "Compared to our global findings, local companies are overestimating the impact of start-ups and underestimating the disruptive potential of themselves and their competitors," PwC NZ said."Where today's corporates aren't focusing is on their existing competitors - our global respondents were twice as likely to predict disruption coming from existing financial service institutions as our New Zealand survey participants," said Andy Symons, PwC NZ financial services leader. The 2017 Global FinTech survey was based on the responses of 1,308 participants, principally chief executive officers (CEOs), directors/department heads, heads of IT/digital/technology, and other top management involved in strategy and innovation from 71 countries and across six regions. Of that global survey pool, there were 22 New Zealand respondents, split across banks, insurers, asset and wealth managers, and fintech start-ups. "The risk that comes with these partnerships is that established firms treat a fintech partnership as a chance to outsource innovation to a start-up, rather than signaling the beginning of a much wider transformation of their operations," said Symons.