The better the question. The better the answer. The better the world works. У вас есть вопрос? У нас есть ответ. Решая сложные задачи бизнеса, мы улучшаем мир. У вас є запитання? У нас є відповідь. Вирішуючи складні завдання бізнесу, ми змінюємо світ на краще. Meilleure la question, meilleure la réponse. Pour un monde meilleur. 問題越好。答案越好。商業世界越美好。 问题越好。答案越好。商业世界越美好。

ASEAN FinTech Census 2018

The EY ASEAN FinTech Census is designed to gather insights on the FinTech opportunities and challenges unique to each significant ASEAN market, namely Singapore, Malaysia, Indonesia, Philippines, Thailand and Vietnam, with regards to the enabling pillars of: demand, funding, talent and regulation.

These are some of the common opportunities and challenges that FinTechs face:

  • Demand: B2B, B2C, B2B2C consumer traction
  • Funding: early and late-stage growth equity, access to public funding/grants
  • Talent: recruitment avenues, availability of local talent
  • Regulation: local regulations, financial licenses, enabling initiatives to support or promote FinTechs’ expansion and growth
  • Environment: competitiveness and internal challenges faced

Respondent Profiles

We have analysed FinTechs’ responses on revenue growth, investment, operating environment, regulatory support, and demand in talent, to come up with the following key insights.

EY - Respondent Profiles


The Census features FinTechs with varied revenue models and aggressive revenue growth targets. Revenue growth highlights proven demand for FinTech products and services in Asean.

EY - Revenue


Fund-raising remains a topic priority. Other than the traditional funding avenues, FinTechs have also received funding through accelerators, token sales, grants as well as from family offices, parent companies and strategic partners.

EY - Investment


FinTechs have ambitious expansion plans though traditional financial service providers still remains their major competitor. FinTech companies find it difficult to compete with traditional financial service providers as it lacks large customer base, robust capital structure, strong relationships with other stakeholders.

EY - Environment


About 87% respondents said that it is either moderate or difficult to confirm to local regulations. Companies in Thailand and Indonesia find local regulations too onerous whereas Singapore-based firms find regulatory confirmation relatively easy.

EY - Regulation


Majority of FinTechs (60%) find tech talent insufficient to meet their needs. This is followed by software (23%) and product management skills (21%), which stand at distant second. As industry matures, talent pool shortages are now being evident in sales and marketing (16% and 17%, respectively). These challenges remain similar across the type of FinTechs whether its payment, platforms or data analytics firms.

EY - Talent

Contact us

EY - Jan Bellens
Jan Bellens
Global Deputy Sector Leader, Banking & Capital Markets
EY - Liew Nam Soon
Liew Nam Soon
Managing Partner for EY ASEAN Markets
EY - Brian Thung
Brian Thung
Managing Partner for EY ASEAN Financial Services
EY - Varun Mittal
Varun Mittal
EY ASEAN FinTech Leader
EY - Jaslyin Qiyu
Jaslyin Qiyu
EY ASEAN Financial Services Brand, Marketing and Communication Leader
EY - Ankita Srivastava
Ankita Srivastava
EY Banking and Capital Markets Knowledge Analyst
EY - Varun Parmar
Varun Parmar
EY FinTech Strategy

Country contacts

EY - Danil S Handaya
Danil S Handaya
Financial Services Country Leader
EY - Evan K Wiradharma
Evan K Wiradharma
Financial Services Advisory Country Leader
EY - Hooi Lam Chan
Hooi Lam Chan
Financial Services Assurance Country Leader
EY - Shankar Kanabiran
Shankar Kanabiran
Financial Services Advisory Leader
EY - Vicky B Lee-Salas
Vicky B Lee-Salas
Financial Services Country Leader
EY - Christian G Lauron
Christian G Lauron
Financial Services Advisory Leader
EY - Roungkarn Sriprasertsuk
Roungkarn Sriprasertsuk
Financial Services Advisory Partner
EY - Ratana Jala
Ratana Jala
Financial Services Assurance Partner
EY - Duong Nguyen
Duong Nguyen
Financial Services Country Leader