Covid-19 acceleration to FinTech

January 19, 2022

The current pandemic is leading to increased access to (and need for) digital banking services. As many as 50% of Southeast Asia consumers are unbanked; 70% are either underbanked or unbanked.

The Covid-19 outbreak has drastically accelerated SEA’s shift to a cashless world, with unprecedented growth in the number of e-payment transactions amid a sharp decrease in cash withdrawals and deposits.

Digital payments and loan-financing services greatly propelled the economic wheel forward throughout the lockdown.