Accenture Report Details Asia Pacific Fintech Boom

November 16, 2024         By: Mike Dautner

Fintech Investment in Asia Pacific, a report from technology consulting firm Accenture, detailed the coming financial technology boom in the Asia Pacific.

The report claims that fintech investments into the region will more than quadruple last year’s and reach into several billions of dollars in total. Financial technology has taken off across the across, and although Asia lagged behind for some time, it appears that the region is finally stepping up its game.

Reports throughout the year have shown increased integration between firms in Asia and others throughout the globe.

The report from Accenture says that in the first nine months of 2015, total financial technology investments reached $3.5 billion, significantly outpacing the $880 million sum for 2014. Accenture also noted that a significant portion of fintech deals in the region, up to 40 percent, were with payment based platforms.

Lending grabbed the second place spot at 25 percent of all fintech investment deals. One interesting fact pointed out by Accenture was that although total investment has more than quadrupled, investment volume only increased marginally. Thus far in the year, Accenture says 122 deals have been made, compared to 117 for all of 2014.

Accenture’s report underlined the importance of both China and Australia in the growth of financial technology investments in the Asia Pacific region. Both regions have significantly stepped up their level of investment, especially in deals involving foreign firms.

Accenture notes that there are three sectors which have and will receive a particular focus: blockchain, cloud and security technology and tools. Blockchain was previously an unpopular idea due to its connection with bitcoin, a technology that previously was not taken seriously. Cloud based systems in particular appear to be receiving heavy investments, according to Accenture.