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The Economist

Digital banking in South-East Asia: Up for Grab

Digital banking in South-East Asia: Up for Grab

Singapore wants innovation, says Bain expert Florian Hoppe

  • 4. Januar 2020
  • Min. Lesezeit

The Economist

Digital banking in South-East Asia: Up for Grab

Singapore wants innovation, says Florian Hoppe, a partner with Bain & Company, but fears its profitable incumbents will be destabilised if tech newcomers burn cash to grab market share.

A recent report by Bain, Google and Temasek found that over 70 percent of adults in South-East Asia are underbanked. The report also says that revenues from digital finance could grow from $11bn today to $60bn by 2025.

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