As technology continues to advance and consumer behavior changes, it is essential for Fintech companies to be agile and adaptable to keep up with the industry’s pace.
During my keynote at Fullerton Leaders Summit, I shared 3 important reports which in my view, will shape the future of Fintech:
1) Bank for International Settlements Report which showed that the global daily turnover for the Foreign Exchange market steadily rose from USD5.1 trillion a day in 2016 to USD7.5 trillion a day in 2022.
2) Blockdata Report which showed that more than 80 of the top 100 companies were already actively engaged in Blockchain.
3) Internet Economy Report which showed a steady emergence of digital consumers all over ASEAN, on track to unlock USD1 trillion Gross Merchandise Value (GMV) by 2030.
Running a Fintech organisation that amalgates all the 3 reports above, it’s not difficult to see that over the next few years:
– Daily trading volume of the financial markets will top over USD8 trillion a day by 2025.
– More corporates will get involved in blockchain to increase the integrity, efficiency and immutability of data.
– More people in Asia will be connected on smartphones, engage in deal flow and transact over the internet; primarily in e-commerce. There are currently over 400 million internet users in South East Asia with over a BILLION mobile subscriptions.
These are key data which none of us can afford to ignore if you’re competing in the Fintech arena in Asia.
As the great Wayne Gretzky said….
“I don’t go to where the puck is. I go to where the puck may be.”
