Opportunities abound across the fast-evolving Asia-Pacific (APAC) fintech landscape, and investment is rushing to tap into them. Open Banking and other regulatory initiatives are redefining financial services markets, with third-party providers ready to gain access to formerly proprietary bank customer data.
Crucially, there is now widespread acceptance that the best way forward for banks and fintech startups is partnership rather than competition, and that the creation of broader ecosystems—the potential of which have already been demonstrated in the region—will play a bigger role in unlocking value for all stakeholders, especially consumers.
APAC fintech financing
The top four destinations for fintech investment in Asia-Pacific from 2014-2018 in US$ billions.
Banks and fintech startups alike will have to overcome practical, talent- and mindset-related challenges to seize the opportunities presented by building financial services ecosystems. If they can do so, those in APAC—and Hong Kong in particular—are well placed to reap the rewards.
Fintech startups, financial institutions and investors should pay close attention to the evolving APAC fintech landscape. To get started, download the report and head over to the FinTech Innovation Lab Asia-Pacific site to discover pioneering technologies and develop collaborative partnerships.