The Philippines leads the region in mobile fintech usage, with Indonesia showing the fastest growth.
Digital wallets and mobile banking are two leading segments of popular apps.
A new study
by UnaFinancial reveals that mobile fintech app adoption in Southeast Asia is
on track to reach 60% by 2030, up from 49% in 2024. The research highlights
significant growth in the region's digital financial services sector, with some
countries poised for particularly high penetration rates.
Southeast Asian Fintech
App Adoption Set to Surge by 2030
The study,
which analyzed data from over 8,700 apps across six Southeast Asian nations,
found that the Philippines currently leads the region with a 63% adoption rate.
This is expected to climb to 72% by 2030, maintaining the country's top
position.
“The
leadership of the Philippines is due to several factors, including the large
share of the unbanked population, efforts of regulators to develop digital
financial technologies, a large proportion of young and tech-savvy population
and a growing level of mobile and Internet penetration,” explained a
UnaFinancial analyst.
Indonesia
has shown the most visible growth, with fintech app usage surging from 9% in
2019 to 49% in 2024. The country is projected to reach 64% adoption by 2030,
securing the second spot in the region.
“The
level of mobile fintech app adoption increased from 9% in 2019 to 49% in 2024.
Similar to the Philippines, Indonesia is actively developing fintech, supported
by government efforts and a large share of the unbanked population,” UnaFinancial
added.
Other
countries in the study include Malaysia, currently at 55% adoption and expected
to reach 61% by 2030, Thailand (45% to 50%), Singapore (45% to 48%), and
Vietnam (32% to 41%).
The
research also broke down adoption rates by fintech segments. Digital wallets
and payment apps lead with 35% penetration, followed by mobile banking at 18%.
Lending apps have shown significant growth, increasing from 1% in 2019 to 5% in
2024.
Investing
and cryptocurrency trading apps lag behind at 2% each, which analysts attribute
to reduced investment activity amid global economic uncertainty.
The study's
findings underscore the rapid digitalization of financial services in Southeast
Asia, a trend that appears set to continue through the end of the decade. As
these technologies become more prevalent, they have the potential to reshape
the region's financial landscape and improve access to services for millions of
consumers.
UnaFinancial
is one of the companies operating in the payments and fintech industry itself.
At the end of July, it presented results for the first half of 2024, when it earned $4.7 million, increasing its net profit by 18%.
Fintech in ASEAN
Within the
Association of Southeast Asian Nations (ASEAN), Singapore maintained a leading
position in 2023 by securing $747 million in FinTech funding, representing 59%
of the total funding in this region. Despite a significant drop of over 65%
compared to the previous year, Singapore still managed to secure 51 deals, the
most in the region, spanning eight different FinTech categories. That was the
broadest range observed locally.
However,
Singapore and other ASEAN-based FinTech companies continue to experience a
global downturn in funding. In the first nine months of 2023, fintech
investments across the six largest ASEAN economies totaled US$1.3 billion,
marking a drastic 70% reduction from the same period in 2022.
Last month,
MUFG and the Finnoventure Private Equity Trust fund collectively invested $195
million in Ascend Money, a fintech unicorn based in Thailand. Ascend Money, a
subsidiary of the Charoen Pokphand Group, has extensive operations across seven
Southeast Asian countries.
A new study
by UnaFinancial reveals that mobile fintech app adoption in Southeast Asia is
on track to reach 60% by 2030, up from 49% in 2024. The research highlights
significant growth in the region's digital financial services sector, with some
countries poised for particularly high penetration rates.
Southeast Asian Fintech
App Adoption Set to Surge by 2030
The study,
which analyzed data from over 8,700 apps across six Southeast Asian nations,
found that the Philippines currently leads the region with a 63% adoption rate.
This is expected to climb to 72% by 2030, maintaining the country's top
position.
“The
leadership of the Philippines is due to several factors, including the large
share of the unbanked population, efforts of regulators to develop digital
financial technologies, a large proportion of young and tech-savvy population
and a growing level of mobile and Internet penetration,” explained a
UnaFinancial analyst.
Indonesia
has shown the most visible growth, with fintech app usage surging from 9% in
2019 to 49% in 2024. The country is projected to reach 64% adoption by 2030,
securing the second spot in the region.
“The
level of mobile fintech app adoption increased from 9% in 2019 to 49% in 2024.
Similar to the Philippines, Indonesia is actively developing fintech, supported
by government efforts and a large share of the unbanked population,” UnaFinancial
added.
Other
countries in the study include Malaysia, currently at 55% adoption and expected
to reach 61% by 2030, Thailand (45% to 50%), Singapore (45% to 48%), and
Vietnam (32% to 41%).
The
research also broke down adoption rates by fintech segments. Digital wallets
and payment apps lead with 35% penetration, followed by mobile banking at 18%.
Lending apps have shown significant growth, increasing from 1% in 2019 to 5% in
2024.
Investing
and cryptocurrency trading apps lag behind at 2% each, which analysts attribute
to reduced investment activity amid global economic uncertainty.
The study's
findings underscore the rapid digitalization of financial services in Southeast
Asia, a trend that appears set to continue through the end of the decade. As
these technologies become more prevalent, they have the potential to reshape
the region's financial landscape and improve access to services for millions of
consumers.
UnaFinancial
is one of the companies operating in the payments and fintech industry itself.
At the end of July, it presented results for the first half of 2024, when it earned $4.7 million, increasing its net profit by 18%.
Fintech in ASEAN
Within the
Association of Southeast Asian Nations (ASEAN), Singapore maintained a leading
position in 2023 by securing $747 million in FinTech funding, representing 59%
of the total funding in this region. Despite a significant drop of over 65%
compared to the previous year, Singapore still managed to secure 51 deals, the
most in the region, spanning eight different FinTech categories. That was the
broadest range observed locally.
However,
Singapore and other ASEAN-based FinTech companies continue to experience a
global downturn in funding. In the first nine months of 2023, fintech
investments across the six largest ASEAN economies totaled US$1.3 billion,
marking a drastic 70% reduction from the same period in 2022.
Last month,
MUFG and the Finnoventure Private Equity Trust fund collectively invested $195
million in Ascend Money, a fintech unicorn based in Thailand. Ascend Money, a
subsidiary of the Charoen Pokphand Group, has extensive operations across seven
Southeast Asian countries.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Revolut Secures Prepaid Card Authorization in India, Plans 2025 App Launch
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage.
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
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