2025-2026 EDITION
ALL EYES ON
ASEAN
BY PROFESSOR ANDREAS DEPPELER with Professor Nafis Alam, Associate Professor Karren Khaw and Dr Mirzet Seho
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A HOTSPOT OF FINANCIAL INNOVATION, INCLUSION AND SUSTAINABILITY
Smartphones. Super Apps. Sustainability. Over the past two decades, the ASEAN region has witnessed a dramatic transformation of its financial landscape and is now poised to become the fourth largest economy by 2030. With the flood of smartphones came seamless financial services now available at one’ s fingertips. Now, financial technology( FinTech) is challenging traditional banks and insurance companies. Unfettered by outdated legacy systems, FinTech firms are employing cutting-edge technology and blockchain-driven solutions to provide what today’ s tech-savvy consumer wants.
FEATURES
Against this backdrop, a growing climate crisis looms. Sustainability and ESG are staking their claim in financial services worldwide, and ASEAN is no exception. Green financing, green bonds and impact investing are in. With FinTech innovation, digital banking, green financing and regulatory convergence driving the region’ s financial sector forward, ASEAN is becoming a hotspot of financial innovation, inclusion and sustainability.
There are more than 25 digital banks operating today across ASEAN markets, with fewer than half funded by traditional banking institutions. Malaysia, Thailand and Singapore have enabled cross-border QR payments, and super apps such as Grab, Gojek and Shopee are expanding financial services to present alternative banking platforms.
“ As a hub of emerging economies with an insatiable appetite for speed and efficiency, ASEAN markets are welcoming the digital revolution.”