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Singapore: Investment in fintechs surges

Investment in Singapore’s financial technology companies in the first half of 2019 has quadrupled from a year ago to 453 million USD, according to a recent report of consulting company Accenture.
Singapore: Investment in fintechs surges
Singapore: Investment in fintechs surges ảnh 1Illustrative image (Source: internet)

Hanoi (VNA) –Investment in Singapore’sfinancial technology companies in the first half of 2019 has quadrupled from ayear ago to 453 million USD,according to a recent report of consulting company Accenture.

The figure means that Singaporeis now the third largest hub for financial technology in the Asia-Pacificregion, only after China andIndia.

As many as 48 investment deals were signed in Singaporein January-June, a year-on-year rise of 55 percent, according to the report.

Close to 28 percent of the total investment was poured intoinsurtech firms, it said.

Fintech companies that provide payment services account for27 percent of the investment, while enterprises in the lending sector make up25 percent, the report added.-VNA

VNA
#investment#financial technology companies#fintech#first half of 2019#consulting company Accenture#Asia-Pacific#China#India#payment services#Vietnamplus#Vietnam News Agency
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