PTE Academic writing summarize written text practice material 50

PTE Academic writing summarize written text practice material

Read the passage below and summarize it using one sentence. Type your response in the comment section at the bottom of the screen. You have 10 minutes to finish this task. Your response will be judged on the quality of your writing and on how well your response presents the key points in the passage.

1.

All industries will need to be ready to stretch their horizons. Advanced technology adoption will be at the heart of future competitiveness. It doesn’t necessarily mean the walls will come down between all industries. But we do expect all industries to be transformed by the technology shockwave, lowering cost bases and improving operational efficiency as well as demanding greater integration with customers and suppliers. In many sectors, it is likely to transform competitive metrics and open up industries to new start-up entrants or incumbents from other sectors.

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2.

For a long time, new market entrants found it difficult to break into the financial services industry.

Well, not any more. FinTech disruptors have been finding a way in. Disruptors are fast-moving companies, often start-ups, focused on a particular innovative technology or process in everything from mobile payments to insurance. And, they have been attacking some of the most profitable elements of the financial services value chain. This has been particularly damaging to the incumbents who have historically subsidized important but less profitable service offerings. In our recent PwC Global FinTech Survey, industry respondents told us that a quarter of their business, or more, could be at risk of being lost to standalone FinTech companies within 5 years.

Global investments in FinTech more than tripled in 2014, reaching more than $12 billion. In comparison, banks spent an estimated $215 billion on IT worldwide in 2014, including hardware, software, and internal and external services. This is a material number, and because it is so highly targeted, the FinTech spending will really make an impact.

PLEASE WRITE YOUR RESPONSE IN COMMENT SECTION

PTE Academic writing summarize written text practice material

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