, Singapore

ASEAN banks brace themselves from giant Chinese tech companies

These tech players venture into fintech using data from ecommerce.

The entry of Chinese tech giants could bring disruption to the financial sector, a Credit Suisse research reports, as these tech players also venture into the fintech space using data accumulated from ecommerce.

Here's more from Credit Suisse:

Financial institutions focusing on micro loans are likely to be more exposed to competition from these fintech players as the latter focuses on the underbanked population. Banks could be more impacted by the reduction of fee income partly because various governments are promoting e-payment adoption.

Our interviews with various experts suggest that banks may face some downward pressure on fee income, but are less exposed to competition in lending from fintech players. Instead, finance companies offering micro and nano loans are more exposed as they could compete directly with the fintech companies.
 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Alipay Tap! crosses 200 million users
It lets users pay by tapping their unlocked phone on a payment terminal.
Cards & Payments
HK, China sign MoU on infrastructure financing, securitisation
The two will explore Renminbi opportunities for infrastructure loan securitisation.
Taiwan’s credit card balance at $3.79b in July
The amount of undue balance of installment rose whilst the delinquency ratio fell.