Before starting the analysis about the investment of fintech, FinFan want to give the best wishes for all best wishes to all Muslims “Ramadan Mubarak.” in Indonesia, Malaysia and Vietnam.
On 21st March the government of Malaysia feels excited when Amazon Web Services (AWS) announced plans this month to invest $6 billion in Malaysia over the next 14 years and hailed it as a win for the country (sourced by Nikkei Asia)
This event shows us the fierce competition between Indonesia, Malaysia and Vietnam for receiving foreign direct investment (FDI), when Southeast Asia will be the next ideal destination for investors from around the world because of its fast-growing technology.
With this growth of technology, fintech has played a big role to lure capital to these three technology-developing countries. Is fintech a good investment in Indonesia, Malaysia and Vietnam? Let’s find out with FinFan.
FinFan doesn’t negate that Singapore is the most developed fintech country in Southeast Asia. However, Singapore’s fintech is growing quite far from the last countries of Southeast Asia (including the second one Indonesia).
Indonesia, Southeast Asia’s largest economy, has emerged over the past couple of years as one of the region’s biggest fintech hubs.
Home to 785 fintech companies, as of late 2021, Indonesia is currently Southeast Asia’s second largest fintech startup community. These companies secured 26% of all fintech funding amount across Southeast Asia, second only to Singapore (44%), showcasing the scale and weight it has on the region’s fintech ecosystem.
Indonesia’s booming fintech sector has been driven by a number of factors, including the rise of digital merchants, accelerating consumers’ adoption of fintech solutions, and bullishness in the investor community regarding the prospects of digital financial services domestically.
Here are the top 3 fintech start-ups in Indonesia:
*Sourced by Fintech News Singapore
The event above: “Amazon Web Services (AWS) announced plans this month to invest $6 billion in Malaysia over the next 14 years” show us the chance for this “Asian tiger” nation.
Malaysia’s financial sector has now included financial technology, or fintech to become one of its central areas of focus given its potential for rapid expansion. Malaysian consumers and businesses are prepared to adopt fintech, especially when considering the country's increasing middle class, high mobile phone usage, and strong government assistance for economic modernization.
In Malaysian fintech, digital payments and e-wallets are paving the way, bolstered by emerging trends and developments like artificial intelligence and machine learning, digital transfers, cryptocurrency, crowdfunding, and other kinds of financial innovations.
Here are the top 3 fintech start-ups in Malaysia:
**Sourced by Fintech News Malaysia
Fintech in Vietnam has been growing up for the last 6 years depending on the exploration of MoMo e-wallet and the appearance of Finhay, just like FinFan mentioned in the article “4 Trends of Fintech in Vietnam 2023”.
According to a report by Robocash Group, an online lender, Vietnam is one of the leading countries in the ASEAN region in terms of fintech funding, second only to Singapore.
Accordingly, 93% of all venture capital investments in the country are directed to the e-wallet and cryptocurrency segment. Every second, Vietnamese people use at least one Fintech service. The demand for digital services, including transactions, payments and wallets among Vietnamese people is remarkable.
This is a young and promising market, with a valuation that has increased from 0.7 to 4.5 billion USD since 2016.