Once an unbanked region, Southeast Asia has now become home to a vast amount of prominent fintech companies, and has given birth to a legion of giants leading the industry. Among the global burgeoning businesses, fintech in SEA is one of the fastest-growing ones. This is led by various factors, such as the fact that the majority of the region’s population are still unbanked, and their openness and willingness to new technology, resulting in blooming widespread fintech adoption. People’s desire for convenience, mobility, and innovation also contributes significantly to this leapfrog phenomenon in the region. Therefore, it is easily comprehensible that fintech in SEA attracts a huge amount of investors, both local and oversea, as it offers a promising future and a potential assurance in the long run.
But with the arrival of COVID-19, one of the severest pandemic the world has ever seen, a tremendous amount of businesses globally are now facing a stumble. However, fintech, being an exception, is withstanding an impact from the battlefront. As the closing of physical bank branches and more transactions are being done online, fintech is growing stronger than ever. Beacon, as a representative of local startups who have invested overseas, and Quona Capital, an example of global firms with their investment in Thailand, from their respective point of view, will give you their opinions and insights on the fintech investment landscape in the region of Southeast Asia during the crisis. And also, we’ll hear from them what sectors in fintech (payment solution, wealth management, financial inclusion, etc.) should be focused in the upcoming year.