Issue Four: THE RISE AND FALL OF P2P LENDERS IN CHINA AND IMPLICATIONS FOR DIGITAL CREDIT IN SE ASIA

Company case studies: FE Credit Vietnam, Paytm

APAC region is showing divergent trends which are a reflection of the sheer diversity of the region. As different countries are at different points of development in their digital journey, we see a range of factors coming out which are often contradictory. We believe there are four broad clusters of banks in the APAC region vis a vis digital finance. These range from players in markets like Bangladesh, Vietnam, Cambodia, Nepal, etc., where banks are still largely branch and agent based and provide mostly face-to-face sales and advice, to those at the other end like Taiwan, Singapore and South Korea, that fulfil almost all transactions through online channels and sell as many products as possible online. Banks are currently at different stages on this multichannel path, stages defined more by the extent to which customers in their countries are embracing the mobile than by the banks' own actions.

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