The recent report from Deloitte conducted in partnership with Robocash Group stated that ASEAN countries have the highest potential in the fintech market up to 2020. The advanced landscape facilitates both the development of financial technologies and the inflow of investments expected to increase by over 20-30% in 2018 compared to the previous year.

Although many ASEAN countries are still emerging markets, the insufficient financial inclusion has become the main driver for the industry and allowed to bring in the advanced expertise and technologies from the developed markets. Despite the average level of the current fintech development in ASEAN (52) is lower than in North America (190) and Europe (59), the local industry has proved its competitiveness in terms of investments. In 2017, fintech in ASEAN gained US$ 5.7 billion that was one quarter less than in the USA. In 2018, the market expects to see the growth by over 20-30% considering the results in the first quarter of the year.

More than 60 private fintech firms shared their views on the factors facilitating or hindering the fintech development. The poll revealed that the market capacity is the main driving force for the industry globally. Most respondents were positive about its opportunities in North America (96%), ASEAN (94%), and Europe (92%) and considered Latin America to fall behind (81%). At the same time, 89% of surveyed companies mentioned that the low penetration of banking services brings ASEAN countries to the forefront in the development of financial technologies and this is less relevant for Europe (84%), North America (82%), and Latin America (61%). Furthermore, many experts pointed on the openness of ASEAN customers to new technologies and products facilitating favourable changes in the technology ecosystem (82% vs. 77% in North America, 76% in Europe, 49% in Latin America) and regulatory initiatives (79% vs. 71% in Europe, 63% in Latin America, 62% in North America). Altogether, these factors promise to boost significantly the development of fintech in ASEAN in the mid-term perspective (one-three years) already.

The recent report from Deloitte conducted in partnership with Robocash Group stated that ASEAN countries have the highest potential in the fintech market up to 2020. The advanced landscape facilitates both the development of financial technologies and the inflow of investments expected to increase by over 20-30% in 2018 compared to the previous year.

Although many ASEAN countries are still emerging markets, the insufficient financial inclusion has become the main driver for the industry and allowed to bring in the advanced expertise and technologies from the developed markets. Despite the average level of the current fintech development in ASEAN (52) is lower than in North America (190) and Europe (59), the local industry has proved its competitiveness in terms of investments. In 2017, fintech in ASEAN gained US$ 5.7 billion that was one quarter less than in the USA. In 2018, the market expects to see the growth by over 20-30% considering the results in the first quarter of the year.

More than 60 private fintech firms shared their views on the factors facilitating or hindering the fintech development. The poll revealed that the market capacity is the main driving force for the industry globally. Most respondents were positive about its opportunities in North America (96%), ASEAN (94%), and Europe (92%) and considered Latin America to fall behind (81%). At the same time, 89% of surveyed companies mentioned that the low penetration of banking services brings ASEAN countries to the forefront in the development of financial technologies and this is less relevant for Europe (84%), North America (82%), and Latin America (61%). Furthermore, many experts pointed on the openness of ASEAN customers to new technologies and products facilitating favourable changes in the technology ecosystem (82% vs. 77% in North America, 76% in Europe, 49% in Latin America) and regulatory initiatives (79% vs. 71% in Europe, 63% in Latin America, 62% in North America). Altogether, these factors promise to boost significantly the development of fintech in ASEAN in the mid-term perspective (one-three years) already.