The relatively recent emergence of fintech and techfin lending platform companies has transformed the banking landscape in Southeast Asia. By increasing digitalisation of financial services, they have brought innovation in product and service personalisation as well as risk management and fraud prevention at a scale and speed never seen before, onboarding millions of financial services users, many for the first time. In a recent ranking of the global top 100 digital-only banks, The Asian Banker found that only 29 are profit making in 2021. Average time to profitability is between two and three years with an average return on equity (ROE) of about 16%.
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