global fintech event money 20/20 has released its latest report, “The Future of FinTech in APAC,” ahead of the Asia Conference to be held in Bangkok from April 22nd to 24th.
The report found that Southeast Asia has emerged as a top priority for fintech growth, with one in three industry players planning to expand into the region.
This highlights the region’s growing profile, driven by dynamic market potential and a joint focus on financial inclusion.
The whitepaper is based on insights from more than 50 stakeholders, including banks, fintech companies, and industry experts from countries such as Thailand, Singapore, Malaysia, and Hong Kong.
More than 95% of respondents highlighted financial inclusion and social welfare as key goals, indicating a shift towards a people-centered approach to expanding financial access.
The report notes that rapid advances in innovation in digital payments and cross-border transactions are the main drivers of fintech growth in the region.
Systems such as PayNow, PromptPay and UPI are facilitating the adoption of non-cash payments, while blockchain partnerships such as Thailand’s SCB and Lightnet and Singapore’s Project Ubin are transforming cross-border payments.
These developments are reinforced by regulatory clarity, which allows for smoother collaboration between traditional banks and fintech companies.
Banks and fintech companies are concentrating on implementing technologies such as AI, blockchain, and cloud computing to improve customer experience and increase operational efficiency.
The gap between digital-first and traditional institutions is narrowing, with both sectors prioritizing modernization to stay competitive and meet evolving regulatory standards.
Embedded finance is also gaining traction, with platforms like GCash, Boost, and BigPay integrating financial services into everyday applications.
The focus is shifting from broad super apps to more targeted, industry-specific solutions for enhanced usability and compliance.
However, challenges to financial inclusion remain, including digital literacy gaps, infrastructure issues, and complex regulations.
Stakeholders are addressing these barriers through market expansion, product innovation, and partnerships.
Full white paper available here.
Ian Fong, Asia Content Director at Money 20/20, said:
“These findings highlight the importance of a human-centered approach in driving fintech success.
We are seeing a shift where regulators and traditional banks are open to discussions and collaboration with emerging fintechs to improve user experience and expand customer accessibility, contributing to a more inclusive ecosystem. ”
Featured image credit: Edited from freepic
