Thursday
October 31
2019

Digital Financial Services to Generate $38 Billion in Southeast Asia, Study Finds

By Yoolim Lee

Digital financial services from lending to asset management are expected to generate at least $38 billion of annual revenue across Southeast Asia by 2025, more than tripling from $11 billion in 2019, according to a new study by Bain & Co.Google and Temasek Holdings Pte.

Online lending will comprise about half that total for the region, which houses some of the world’s fastest-evolving internet and mobile industries. Growing smartphone penetration promises to unlock internet-based services such as insurance to more than 70% of an adult population neglected by traditional banks, according to the report.

Photo courtesy of Jaume Escofet.

Source: Bloomberg (link opens in a new window)

Categories
Finance
Tags
digital finance, financial services