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SE Asia's digital financial services revenue set to soar

It could hit US$60 billion by 2025 if region's financial players can solve multiple needs of underserved SMEs through digital means, says report

Published Wed, Oct 30, 2019 · 09:50 PM

Digital economy

Singapore

REVENUE from South-east Asia's digital financial services could hit US$60 billion by 2025, but only if the region's financial players can crack barriers to lending in the SME (small and medium-sized enterprise) space.

While interest from the region's 64 million SMEs is high - around 80 per cent of small retailers need credit - they remain underserved by established players, said a report by Google, Temasek and Bain & Company on Wednesday.

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