Resume by Martin Gøttske
The momentum of financial technology (fintech) adoption is building in Southeast Asia where countries are moving towards a common national payments infrastructure and QR code standard. That’s the conclusion in United Overseas Bank’s (UOB) new report, State of Fintech in ASEAN.
Singapore is home to two in five ASEAN fintech startups but especially Indonesia, Malaysia and Thailand are fast catching up as a preferred fintech home, supported by high levels of mobile adoption, rising rates of internet penetration and an increasingly urban, literate and young population.
This is a suitable environment to grow new technology and innovation that can compete with traditional financial methods in the delivery of financial services.