Will Southeast Asian consumers move to nonbank digital players?

More than one-third of Southeast Asian consumers surveyed are willing to shift some of their banking activity, including credit cards and loans, to nonbank digital players. Our research shows that up to 10\% of deposits and up to 12\% of credit card business in Indonesia, Malaysia, Thailand, and Vietnam could move to nonbank digital players.

What is the current economic condition of Indonesia?

Indonesia: Economy Indonesia’s GDP expected to grow by 5.2\% in 2018 and by 5.3\% in 2019 – ADO 2018 Update Indonesia’s inflation rates forecasted at 3.4\% in 2018 and 3.5\% in 2019 – ADO 2018 Update Per capita GDP growth for Indonesia is expected at 4.1\% in 2018 and 4.0\% in 2019 – ADB Report

Can Southeast Asia’s digital finance market make the next Great Leap?

Our research shows that up to 10\% of deposits and up to 12\% of credit card business in Indonesia, Malaysia, Thailand, and Vietnam could move to nonbank digital players. Both incumbent banks and nonbank challengers must address several obstacles if Southeast Asia’s digital finance market is to make the next great leap in scale.

How does ASEAN interact with other countries?

ASEAN also regularly engages other countries in the Asia-Pacific region and beyond. A major partner of Shanghai Cooperation Organisation, ASEAN maintains a global network of alliances and dialogue partners and is considered by many as a global powerhouse, the central union for cooperation in Asia-Pacific,…

How does the Philippines’ rail infrastructure compare to Indonesia?

This is in contrast to Indonesia that has improved significantly from 105th in 2009 to 75th in 2017. Rail infrastructure tells a similar story. Despite having one of the first rail systems among the ASEAN member countries, the Philippines has not been able to sustain its pioneering ways.

Is Southeast Asia’s QR code technology the next big thing in finance?

In most of the region, such transfers require several days. Several Southeast Asian countries, including Singapore and Thailand, have followed China’s path and are well advanced toward standardized QR codes. Southeast Asia—a region of more than 660 million—is fast emerging as the world’s next megamarket for digital consumer finance.

How does our infrastructure rank among the asean-5 countries?

For overall infrastructure, we lag behind our ASEAN-5 neighbors, especially Thailand, Malaysia, and Singapore. What is worrisome is that our overall infrastructure ranking has steeply declined from 94th in 2009 to 112th in 2017. Next, our road infrastructure has also performed poorly, being the worst among the ASEAN-5 countries.