The digital banking industry in Southeast Asia (SEA) is undergoing a significant transformation, driven by technological advancements, changing consumer behaviors, and supportive regulatory frameworks.
..
Digital banks are playing a key role in the Fintech industry in the SEA region. According to data provided by Statista, they are expected to reach a profit of US$0.70 trillion by the end of 2024, growing at a compound interest rate of 9.86% between 2024 and 2029.
The industry has seen a rapid increase in digital banking apps, with a 32% growth in average annual fintech app installs from 2022 to 2023. This growth is driven by disruptive technologies, digital penetration, and evolving customer expectation
Currently, countries such as Indonesia, Singapore, Thailand, and Malaysia,…