Tag "financial inclusion"
More Than Half the Fintech Industry Seeing Growth from Strong Consumer Demand
The fintech industry, having navigated through the turbulent waters of the COVID-19 pandemic, has demonstrated not only resilience but also a robust capacity for growth. This period of upheaval has catalysed a significant transformation within the sector, with fintech firms
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Can Fintech in Bangladesh Catch Up with its South Asian Neighbours?
In recent years, Bangladesh has seen rapid growth in its fintech sector, fueled by the widespread adoption of mobile technology. This has enabled financial services to reach millions of previously unbanked citizens, leading to a remarkable rise in financial inclusion
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Kerala Embraces Digital, as India’s Banking Ambitions Grow
Even as India is going about the implementation of 75 fully digital banking branches throughout the country, including making allocations for rural areas in the 2022-2023 budget, Kerala claims it has emerged as the first state in India to go
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Embedded Finance vs. BaaS in Financial Services
In recent years, the financial services industry has undergone a significant transformation. Traditional financial institutions face new competition from startups leveraging technology to offer innovative financial products and services, broadly referred to as the fintech landscape. But there is a
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Big Tech, Super Apps Redefining the Status Quo in APAC’s Banking Space
A major paradigm shift is taking over Asia Pacific’s (APAC) banking sector, driven by a changing regulatory landscape, the onset of open banking, and rising competition from big techs and super apps. By leveraging data and ecosystem partnerships, these new
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The Future of Finance: How to Cope With Open Banking In Emerging Asia
For more than a decade, Asia has been the largest regional banking market and as the continent’s massive middle class continues to grow, McKinsey expects personal financial assets in the region to reach US$69 trillion by 2025, or 75% of
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Finance Needs to Be Redefined for Good to Serve One Billion of Asia’s Unbanked
As a catalyst for digitalization, COVID-19 will further help improve financial inclusion in emerging economies, according to Wissam Khoury, head of international at Finastra. Home to an unbanked population of about 1 billions, Asia has experienced a boom in fintech
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7 Fintechs in South East Asia That’s Making Financial Inclusion Its Mission
Over 70% of adults in Southeast Asia currently lack sufficient access to financial services and millions of small and medium-sized enterprises (SMEs) in the region still face large funding gaps. The underbanked and unbanked is often overlooked by incumbent banks
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The Digital Ecosystems That Will Help Indonesia Reach 80% Financial Inclusion
The Southeast Asia Internet Economy Report 2019 by Google, Temasek, and Bain & Company predicts that Indonesia’s digital economy will more than triple to US$133 billion in 2025, driven largely by increasing acceptance by its more than 260 million population.
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With 70% Unbanked Population, Myanmar Bets on Fintech to Improve Financial Inclusion
Despite the Myanmar government’s push to expand access to financial services, the country still trails far behind the rest of Asia in rates of participation in formal financial services, financial literacy, savings rates and the use of digital financial services,
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