Research by Mirae Asset Global Investments has found a heterogeneous impact on Asia’s financial sector from upcoming fintech trends, depending on factors such as banking penetration, sophistication of telecoms networks, the regulatory environment and weight of population.
Unlike developed markets, banking developments have focused more on corporate lending, which historically means that consumer access to regulated lenders can be spotty. Fintech promises to change this, increasing ratios of consumer credit used in markets such as India and Indonesia. An estimated 800 million Asians are not users of banks currently.
Click here to read the full report: Mirae Asset LENS_Issue 8_Part II