The Cambridge Centre for Alternative Finance, Asian Development Bank Institute, and FinTechSpace Launch ASEAN Fintech Industry Survey

The Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School,  Asian Development Bank Institute and FinTechSpace have formed a partnership to launch the ASEAN Fintech Industry Survey – the first study of its kind.

According to CCAF, the research will focus on all forms of Fintech including:

  • Online lending (P2P/Marketplace
  • Crowdfunding
  • Digital Payments / Transfers
  • Insurtech
  • Trading / Capital Markets
  • Wealth Management
  • and more

The study will also cover fast emerging iterations of Fintech such as artificial intelligence (AI), machine learning (ML) and the incorporation of blockchain/distributed ledger technology (DLT).

Blockchain, described as a game changer in finance by some, has boomed in recent years yet many questions persist as to how the tech will be incorporated into the finance stack and whether it will have the impact claimed by some.

CCAF says that the research will be completed soon and made available to the public by the end of March 2019.

The leading global research entity in the alternative finance sector, CCAF’s research reports are closely read by policymakers, regulators, and industry participants around the world. As with all of their other published research, CCAF seeks to facilitate a dialogue between public and private Fintech stakeholders. Correlated data will be presented in aggregate, by country or product, as participants information will be anonymized so no individual data will be revealed.

Dr. Miguel Soriano, who is the co-lead of the study at CCAF, said the Fintech landscape is continuing to evolve, impacting all products and services in the financial services industry.

“This research study will be essential to map the progress and development of the different products, services, business models and technologies being used by Fintech companies in the ASEAN region,” said Soriano. “This study will provide important market data and analysis of the industry for all stakeholders in the ecosystem.”

Dr. Hung-Yi Chen, Asia-Pacific Region Manager at CCAF added that it was a pleasure to partner with the Asian Development Bank Institute as well as FinTechSpace on the inaugural study tracking emerging dynamics and developments within the fast-changing industry in ASEAN.

Dr. Naoyuki Yoshino, Dean at Asian Development Bank Institute, pointed to the ability of Fintech to provide access to financial services to the underbanked.

“There are various aspects that relate to the development of financial technologies in ASEAN countries. One is ‘access to finance.’ People can use mobile phones to make their deposits and purchase a variety of financial products,” said Dr. Yoshino. “Individuals and businesses can now borrow money online or through their mobile phones. Financial Institutions can collect data on these borrowers and, in turn, make lending decisions easier especially as related to risk assessment.”

Dr. Yoshino said that financial education will play a vital role for Fintech firms as they engage with industry stakeholders:

“Financial technology will change the way of life for many people in the ASEAN region. We believe that this ASEAN Fintech study will provide key insights on the overall development of digital financial technologies in the ASEAN region.”

 CCAF explained that the survey aims to be the first study to capture a complete picture of the Fintech landscape in the region. The balanced perspective will serve as a guide to regulators and policymakers for promising sectors of Fintech.

Eddie Lee, Vice President of the Singapore Fintech Association, a key industry partner for the study – as well as previous APAC Alternative Finance research published by CCAF, said ASEAN is complicated with ten different countries and ten different sets of regulations. These ten different countries represent a population of about 600 million:

“With the experience and network that the research team has accumulated in the Fintech landscape, we are very eager to see and be part of the next piece of work,” said Lee.

Chih-Shan Luo, Managing Director of FinTechSpace – the leading Fintech hub in Taiwan, called the research a great opportunity to study the Fintech landscape in detail given the rapid change and the diverse range of regulation.

“This initiative further promotes greater collaboration amongst Fintech players within the ASEAN region. It will showcase a better understanding of the industry’s dynamics and prospects for exponential growth in building and expanding a sustainable digital finance ecosystem,” stated Lito Villanueva, Chairman of Fintech Alliance Philippines.


All Fintech platforms in the ASEAN region are invited to contribute to the survey below. All participating platforms will be kindly acknowledged in the report, with their respective logos displayed prominently.

Link to the Survey:

https://jbs.eu.qualtrics.com/jfe/form/SV_bkDzcMbIMsxPPRH

For inquiries about the ASEAN FinTech Survey, please contact:


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