One of the promises of fintech is also its capabilities in reducing the unbanked population, which still makes up about 50% of Southeast Asia, especially in Indonesia, the Phillippines, and Vietnam. Fintech in Indonesia and the Phillippines is already enhancing its services to reach out to the unbanked with Vietnam growing its fintech reach as well.
Interestingly, the fintech landscape in Vietnam is now experiencing the second-fastest growth in the region, after Singapore. According to analysts from Robocash Group, the fintech market in Vietnam is expected to grow to US$ 18 billion by 2024, despite the high competitiveness and a high entry bar.
