16 July 2019
- RSIS
- Publication
- External Publications
- Fintech Disrupted
Fintech Disrupted
The push towards a cashless society by governments and the private sector has led to a rapid global development of the financial technology (fintech) industry. Countries in Asia are increasing their adoption of fintech to meet the challenges of a globalized digital economy, such as access to underbanked individuals and reduction of fraud and scam payments. In times of civil unrest, uncertainty and protests, the attitudes of individuals towards fintech undergo a dynamic reversal as fears of surveillance and privacy violations induce a shift away from going cashless.
The push towards a cashless society by governments and the private sector has led to a rapid global development of the financial technology (fintech) industry. Countries in Asia are increasing their adoption of fintech to meet the challenges of a globalized digital economy, such as access to underbanked individuals and reduction of fraud and scam payments. In times of civil unrest, uncertainty and protests, the attitudes of individuals towards fintech undergo a dynamic reversal as fears of surveillance and privacy violations induce a shift away from going cashless.
