Singapore fintech market could double in size to $13 billion, says HSBC

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The Straits Times 1d ago

Singapore fintech market could double in size to $13 billion, says HSBC - The Straits Times

Quick Summary:

The Republic is seen as a challenger to leading global fintech hubs in the US and Britain.

Banks can buy equity in fintech firms to upgrade in-house technology capabilities or form an alliance to jointly offer products while taking care of the working capital needs of the fintech partner.

McKinsey predicts global fintech revenue will double to over US$400 billion by 2028.“There is optimism for 2025, with expectations of a backlog of fintech deals potentially rejuvenating the investment landscape,” said the KPMG report.