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.
An important factor is that of Southeast Asia’s huge population, many are “unbanked” - meaning they lack access to traditional banks and services.
Although bank penetration in Vietnam is consistently growing, it still trails other Southeast Asian nations with only 59 % banked citizens only in 2017
China is quickly adopting financial technology, as both consumers and businesses are drawn to a slew of handy and efficient services
Customers using face-detection technology to make payments has become popular in China where 14% of customers don't carry any cash at all
T2P Deep Pocket, Thailand’s e-wallet service provider, has closed a $3-million series A round led by J-Venture, the corporate venture capital arm of SET-listed mobile retailer...