In the first three quarters of this year, investments in Asean’s FinTech sector garnered US$4.3 billion ($6 billion), 7% out of the total US$63.5 billion poured into FinTech globally during the same period, up from 2% in 2018.
According to the “FinTech in Asean 2022” report by United Overseas Bank (UOB), PricewaterhouseCoopers (PwC) Singapore and the Singapore FinTech Association (SFA), Asean remains attractive for FinTech funding investments amidst external pressures, with Singapore and Indonesia taking the lead in accounting for over 75% of the region’s total fintech funding.
The report for this year surveyed over 4,000 respondents, in addition to engaging in conversations with industry leaders to find out how consumers are warming up to leading new areas such as embedded finance, and how companies and fintechs can tap into the sector.
