September 14, 2016
Embracing the Southeast Asian digital revolution in financial technology, FinTech seems to be exploding with quite a lot of startups having been established from 2009 onwards. The breadth and depth of solutions across FinTech is quite impressive and clearly signifies that the Southeast Asian digital revolution has arrived in the financial services sector.
Post-2009, Southeast Asian FinTech startups started to take bold steps to engage with emerging innovations. Singapore, the FinTech hub in Southeast Asia, is reinventing itself as a FinTech leader with strong support from the regulators. As a part of Singapore’s plan to become the world’s first 'smart nation,' several initiatives have been introduced to fostering the FinTech sector and build a Smart Financial Center. Other countries in the region – such as Thailand, Indonesia and Malaysia – are seeing rapid advancements when it comes to their economies due the sheer size of their populations and investments in technology and infrastructure. Regulators in these countries are supportive of FinTech initiatives and are enhancing regulations to facilitate the growth of the FinTech ecosystem.
We take a look at the top* and emerging** sectors in the various countries of Southeast Asia: