The Asian Fintech Market: Key Insights and Trends

The state of fintech innovation in Asia

Positive government initiatives

Multiple investors interested in fintech

Unbanked population (in 2018, only 47% of individuals in the region had bank accounts)

The population’s openness to new technologies and financial software in particular

Hong Kong's fintech hub is in the top 10 regional financial technology hubs.

Ten fintech unicorns are based in Hong Kong.

In 2020, Hong Kong rose from eighth to fifth in the World Digital Competitiveness Ranking.

Over 43% of all startups in the ASEAN (The Association of Southeast Asian Nations) fintech network are located in Singapore.

In the first quarter of 2021, fintech companies in Singapore raised about S$656 million, up 355% from the year before.

Singapore received the #2nd position in the World Bank's “2020 Ease of Doing Business Report”.

Indonesia has one of the biggest populations in the region.

In 2018, the Indonesian government introduced a unified regulatory approval system to make it easier for fintech companies to work.

20% of the startups in ASEAN fintech network are based in Jakarta.

The Cross-Border Privacy Rules

Payment Licence from PBoC

E-Payment User Protecting Guidelines by MAS

NPG in Indonesia

Payment Systems Act in Thailand