28 Feb 2017

IDC Financial Insights Will Unveil Fintech’s Fast 50 to Watch at the Asian Financial Congress Summit 2017 in Singapore

SINGAPORE, March 1st, 2017 – IDC Financial Insights will unveil Fintech’s 50 to watch in Asia Pacific, or “IDC’s FinTech Fast 50”, at the Asian Financial Congress Summit 2017 to be held at Marina Bay Sands, Singapore from March 2-3, 2017.

“IDC’s FinTech Fast 50” refers to the fifty leading fintech players in Asia Pacific based on IDC Financial Insights’ extensive analysis of the fintech phenomenon in China, Singapore, Hong Kong, India, Malaysia and Indonesia and will be published in an IDC perspective titled, “First List of 50 Fintechs to Watch in Asia/Pacific”. This perspective is the first to be published under IDC Financial Insights’ 2017 report series, which hopes to help financial services institutions and financial technology players identify and understand potential fintech players and provide essential guidance on their strategic approach towards fintech players.

The key highlights of the research include:

  • The Fintech Fast 50 defines fintech as new models for financial services offered through "nontraditional" vendors. It can refer to the companies themselves or their products.
  • The disruption is mostly in payments (including remittances and money transfer), followed by lending, wealth management and marketplace/aggregator categories.
  • Out of the six geographies covered in the report, China emerges as the leader in terms of addressable market, customer adoption, valuations and investments.

“IDC Financial Insights will continue to monitor the fintech growth and innovation with support of on-ground analysts in these geographies, intent on keeping a cynical eye on the real measures of success beyond press releases, marketing events and hype,” says Sneha Kapoor, Senior Research Manager, IDC Financial Insights Asia/Pacific.

“Fintech has become a catch-all term to point to an upsurge in the use of an assortment of new technologies, products, trends and delivery methods that change the way financial services are delivered. This has made it necessary to define Fintech in the most pragmatic way possible and evaluate technologies and products objectively,” adds Kapoor.

IDC Financial Insights believe that around 15% of the traditional financial services business is up for disruption and FIs need to identify their way forward to tap on the new community – whether to build, buy, or collaborate with fintechs.

“Year 2017 is also emerging as the year of regulator’s self-endorsement as a promoter of fintech. Regulators and government agencies in most jurisdictions in Asia Pacific have started working towards creating the most fintech-friendly environment – from promoting fintechs to regulatory sandboxing,” says Handojo Triyanto, Senior Research Manager for IDC Financial Insights Asia/Pacific.

IDC estimates that this will further drive fintech growth and innovation in the region. Ultimately, the end users of financial services will benefit from the collaboration among regulators, traditional financial institutions, technology players and fintechs.

For more information on this research study, First List of 50 Fintechs to Watch in Asia/Pacific (AP42328417, March 2017), please contact Sneha Kapoor skapoor@idc.com or your IDC account manager.

The Asian Financial Services Congress 2017 is organized by IDC Financial Insights Asia/Pacific.

For more information about this event, visit http://www.ap.afscongress.com. For media inquiries, please contact Tessa Rago trago@idc.com or Alvin Afuang aafuang@idc.com.

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About IDC Financial Insights

IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investments industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world's leading technology, media, research, and events company. For more information, please visit www.idc-fi.com, email info@idc-fi.com, or call 508-620-5533. Visit the IDC Financial Insights Community at http://idc-insights-community.com/financial

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC.

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