In Southeast Asia, 60 per cent of the population does not have a bank account and the credit card penetration rates in Indonesia, the Philippines, Vietnam...
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing investors Y Combinator, Hummingbird and Picus...
Thailand is regarded as an ASEAN country with rapid Fintech development, with 140 Fintech companies registered, while about half of them are new companies.
The two central banks aim to promote the use of innovation and technology to reduce costs and improve efficiency of financial products and services.
Alipay is the world’s largest mobile and online payment platform operated by Ant Financial Services Group, with over 900 million members.
in 2017, Asia saw 319 million new mobile connections, compared with just 5 million new mobile connections in Europe over the same time period.
Thailand is particularly susceptible to fintech thanks to a gap in connectivity between urban and rural areas, where fintechs can jump in to disrupt existing processes
Not only does fintech hold massive potential for Asian businesses – those who do not get on board soon will be left behind, warns Lawrence Yeo.