India top and Singapore in second place in Fintech study, here also the bowl in the hands of Pakistan
[ad_1]
Singapore : Most of the people in India are adopting the digital world and the number of people adopting it is expected to increase further in the near future. Just last week, a fintech study report has been published by Robocash Group for countries in South and South-East Asia, in which India is on top and Singapore is in second place. The interesting thing is that even in this study report only a bowl is visible in the hands of Pakistan.
According to a report by news agency ANI, Robocash is a fintech company with offices in Asia and Europe, specializing in providing tech finance solutions to those underserved by the traditional banking system in emerging markets. Among South Asian countries, India has already come first in many categories, including the highest amount of money and total revenue. The study covers the years from 2000 to 2022. The survey covered four areas. During this, a total of $ 25.6 billion was raised, which is about 48 percent of the total amount.
India tops the Fintech index
According to the report of the agency, India is also at the top of the Robocash South-East Asia Fintech Index. After this, Singapore is in second place and Indonesia is in third place. The metrics the index uses to derive its score include share of total wealth, share of total revenue and share of total active companies. The Robocash Report aims to develop an understanding of the development of financial technologies in mature and emerging countries of the South and South-East Asian region, ie India, Indonesia, Singapore, Philippines, Vietnam, Malaysia, Bangladesh, Pakistan and Sri Lanka.
what is the basis of the survey
The four fintech areas chosen for the survey are payments and transfers, alternative Aadhaar, e-vote and digital banking. For the purpose of the study, only those companies were selected which are located in the territory of a particular country, whereas foreign entities have been excluded from this study. According to the report, by the end of the year 2022, there are about 1254 active fintech companies in nine countries and four regions studied. This represents a nearly 45-fold increase over the 28 companies that existed before the year 2000. The growth of such firms accelerated between 2015 and 2020, when more than 62 per cent of the firms in the study were founded.
541 companies of India and 51 of Pakistan are included in the study.
India has the highest number of such companies at 541, which represents about 43.1 per cent of the total companies in the countries of South and South-East Asia. It is followed by Indonesia 165 (13.2 per cent), Singapore 162 (12.9 per cent), Philippines 125 (10) and Malaysia 84 (6.7 per cent) and Vietnam 78 (6.2 per cent). In this, Pakistan, Sri Lanka and Bangladesh studied 51, 27 and 21 companies respectively, which is the least number of fintech companies included in the survey.
whose share how much
Of the companies surveyed by Robocash, India is involved in the alternative lending sector with the largest number of 543 companies (43.4%). This is followed by payments and transfers with 496 companies representing 39.6 per cent of the total, e-vote with 118 companies (9.4 per cent) and digital banking with 96 companies, representing 39.6 per cent of the total.
[ad_2]
Source link
