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ASEAN fintech grows in 2024, boosted by AI
The fintech sector in the ASEAN region has seen a significant increase in funding, growing more than tenfold since 2015.
This is according to a recent report released by UOB, PwC Singapore, and the Singapore FinTech Association.
The report identifies Singapore and Thailand as top destinations for fintech investment this year.
In the first nine months of 2024, ASEAN fintech funding hit US$1.41 billion, accounting for 4% of global investments.
This marks a recovery after a 71% drop in funding from 2022 to 2023.
Advanced technologies like GenAI and quantum computing are seen as key drivers for future growth in the region’s fintech sector.
Recent UOB developments
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05-May-2023 💊 UOB leads $51.5m round of Vietnam’s Buymed
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27-Apr-2023 🤝 UOB, Lazada partner to offer loans for SEA sellers
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25-Oct-2022 🌱 UOB’s greentech accelerator names 12 startups in first batch
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24-May-2022 💰 UOB backs Singapore private exchange’s $58m pre-series B
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