APAC fintech market to reach US$72b by 2020

Increasing use of digital payments will fuel the growth.

The financial technology (fintech) market in the Asia Pacific region is projected to reach US$72b in 2020, with a compound annual growth rate of 72.5% from 2015, according to Frost & Sullivan.

The research firm noted the positive outlook will be fueled by growth in digital payment such as increasing use of cashless payment by small and medium enterprises.

Meanwhile, the increasing awareness on the viability of P2P financing and new methods of crowdfunding based on blockchain will push the growth in the personal and business financing segments.

In Singapore, more fintech services based on big data and analytics, artificial intelligence, and blockchain are expected to be launched in the areas of financial investment and advisory services.

However, Spike Choo, consulting director at Frost & Sullivan, warned the sustainability of these fintech services would depend on its capability to address the wide-ranging consumers’ investment and insurance needs without compromising customer experience.

Also Read

Fullerton Fund Mgmt, UNDP working on sustainable management framework

DBS, OCBC to see net profits dip, loan growth soften in Q1

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit