The ASEAN Fintech Ecosystem Benchmarking Study

Abstract

The objective of this study is to gain a better understanding of the FinTech landscape in the ASEAN region and how it has been evolving within each country. The FinTech ecosystem is constituted of interrelated and purposively congruent stakeholders, including FinTech companies, financial institutions, investment firms, accelerators/incubators and regulators and policymakers. The ASEAN FinTech Ecosystem Benchmarking Study examines the different FinTech business models that have emerged, the main business strategies taken to market, the types of customers served, and the principal technology innovations being adopted. In addition, the report provides an opportunity for FinTech firms to share their views on the main priorities to expand outside of their home country, how regulations are impacting their businesses, their level of innovation, as well as the key risk factors that may hinder their growth and scale. A FinTech taxonomy has been developed to classify the FinTech firms and is referenced below. The analysis focuses on the top five FinTech business models based on the number of responses. In addition, the report provides key insights and perspectives of the FinTech landscape for the top five ASEAN countries (based on the number of responses).

Keywords: fintech, alternative finance, ASEAN, financial services, unbanked, financial access, financial inclusion, regulation, business strategies, blockchain, distributed ledger technology