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.

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PTE Academic writing summarize written text practice material

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8 thoughts on “PTE Academic writing summarize written text practice material 50

  1. 1.All industries required to adopt technological advancements in order to reduce price, increase efficiency and improve link with customer and supplier which also open up competition and new start-ups in many fields.

    2. Fintech disruptors called as fast moving companies who reduced considerable business of the incumbents by targeting specific profitable portion of the financial services, because of that global investors tripled their investments in Fintech disruptors.

  2. 1. The orator talks about the current scenario of tight competition between industries and to survive, need of complete transformation with new technology adoption and customer focus.
    2. FinTech entered in financial services thought mobile payment to insurance, with less margin and lead to $12 billion company in these years, cover more than a quarter of business.

  3. Fintech entered is a fast growing company with the latest innovative technology which is going to impact their competitor, so bank spent the more amount on it than Fintech entered for remaining stable in the market.

  4. Advanced technology in various sectors is expected to change the way industries compete and may also see new enterpreneurs.

    There is a hindrance to the incumbents of financial industry due to the evolution of FinTech disruptors, and investments in FinTech is increasing rapidly.

  5. Industries will need to be ready to stretch their horizons to keep up with advancements in technology; therefore, it is likely to transform competitive metrics and open up industries to new start-up entrants or incumbents from other sectors.

    FinTech disruptors have been attacking some of the most profitable elements of the financial services value chain and because of this, global investments in FinTech more than tripled in 2014.

  6. Industries advancement in technology will be the future competitive sector, the drastic transfotmation is going to take place in technology shockwave, lowering cost bases and operational efficiency .
    Integration with customers and supplier and competitive metrics scale will open up entry to startup and incumbent from other sectors.

  7. Due to the entrance of Fin tech company in the financial service industry, which is focusing more on innovative technology, the businesses of other financial companies are on greater risk and to compete with this, companies are increasing their investments in IT sector.

  8. 1. Latest technological adoption will not only put industries at the verge of competition but also improve efficiency and demand-supply attributes with reduced cost which results in affecting other sectors positively.

    2. Rapid, mostly startups, only target Profits are the Disruptors, Fintech is the one affecting other financial services providers business as per the Survey according to which the global investment evaluated as triple in 2014 that hardly influential.

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