NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, May 6, 2016

The fintech sector in Asia Pacific is booming, according to Accenture’s ‘Fintech and the evolving landscape’ report.

The study found that fintech investment in the region more than quadrupled to US$4.3 billion in 2015, which accounts for 19 percent of global financial activity. Payments is the most popular segment for fintech deals in Asia Pacific, accounting for 38 percent of the total investments.

While China has the lion’s share of investment, accounting for 45 percent in 2015, fintech is also taking off in ASEAN.

For instance, Singapore-based Marvelstone Tech, which bills itself as a facilitator of fintech, announced in February it raised S$17.7 million (US$12.6 million) seed round from angel investors. The company says the main goal of the platform is to fund small and medium-sized enterprises (SMEs) in Korea with data-driven analytics.