Description

Mobile financial services (MFS) allow customers to access financial services and make financial transactions through mobile applications (apps). The use of mobile apps is playing an important role in the adoption of MFS in the Asia-Pacific (APAC), especially in areas where the mobile penetration rate is high and the population is largely underbanked. MFS is designed to address the financial access gap by enabling direct interaction between financial service providers and customers, reducing the friction in the service delivery channel.

Innovations in artificial intelligence (AI) and big data analytics have automated processes, accelerating the development of mobile customer journeys. Omnichannel architecture helps providers enhance the flexibility of their infrastructure and offer customers 24/7 access to financial services. Customers can even sign up for multiple financial services through a single app, bringing cross-selling opportunities to providers.

The study provides a growth opportunities assessment for the APAC MFS market, with a scope analysis that covers the regional trends and the drivers for and restraints to the adoption of MFS in the region. It identifies the key market participants in the MFS ecosystem and analyzes their competitive positions in the market. The segment analysis covers payments, loans, and investments.

The regions covered in the study are:
•     East Asia: China, Hong Kong, Japan, Republic of Korea
•     South Asia: India
•     Southeast Asia (SEA): Singapore, Indonesia, Malaysia, Vietnam, and the Philippines
•     Australia

The base year is 2021, and the forecast period is 2022 to 2026

Author: Dewi Rengganis