Priya Patel
TLDR:
Key Points:
- Asia’s real-time payment innovation is serving as a model for many fintech businesses to follow.
- The fintech industry in Asia is expanding rapidly, particularly in digital payments, digital lending, digital banks, and wealth tech.
Asia’s fintech industry is making significant strides, with real-time payment innovation paving the way for future developments. According to Zennon Kapron, founder and director of Kapronasia, Asia has seen rapid growth in digital payments between businesses, the emergence of digital lending platforms supporting SMEs, the rise of digital banks, and the expansion of wealth tech. These findings are outlined in the whitepaper “Navigating the Future of Fintech in Asia: The Next Phase of Financial Services in Asia Pacific” produced by Kapronasia in collaboration with Money20/20.
Despite the positive factors contributing to the growth of Asia’s fintech industry, challenges remain. Kapron emphasizes the importance of integration, balanced regulation, and partnerships for Asia’s fintech success. The region is gearing up to host Money20/20 in Bangkok, where industry professionals will have the opportunity to explore the limitless potential of fintech. The event will feature key themes such as integration, virtualization, and Asia’s fintech frontier, aiming to foster collaboration and growth across diverse economies.
Money20/20 Asia, which will take place on April 23-25, is set to attract over 20,000 fintech and financial services professionals. With a focus on breaking down barriers, creating opportunities, and imagining a world of digital finance, the event aims to showcase innovative fintech solutions meeting the needs of the unbanked and promoting economic empowerment. As the fintech industry continues to evolve, Money20/20 Asia stands as a platform for industry players to engage, learn, and grow together in this dynamic landscape.
