Singapore will lead in South-east Asian fintech

Abstract

Subject Recent developments in South-east Asian fintech. Significance Singapore and Malaysia are preparing for the introduction over the next two years of fully digital banks, a move that will likely change banking substantially in both countries. Meanwhile, the proliferation of digital lenders and cryptocurrency investment schemes is creating challenges for regional regulators. Impacts The introduction of digital banking in Malaysia may reduce the profitability of the country’s largest traditional banks. Digital trade agreements will likely proliferate across South-east Asia. The growth of fintech in the region will increase the exposure of its consumers to cybersecurity threats and fraud.