Desfran Consulting

Digitalisation is fast changing the landscape of the banking industry and Indonesia is at the forefront of this change. As Indonesia adopts an innovative and technology-driven solution to create a sustainable and conducive FinTech lending environment, it is essential to address the foreseeable challenges of providing credit access to these previously untapped individuals and MSMEs. Digital technology will continue to transform the banking industry in Indonesia .

Innovations using blockchain technology disrupted how companies and markets conduct business. Digital currencies are on the rise, particularly stablecoins, due to its convenience and opportunities it offers to businesses. For tech entrepreneurs who hire foreign talents offshore, stablecoins are the answer to efficiently move funds and improve the flow of capital .

Several countries such as South Korea, Malaysia and Taiwan are currently experiencing the effects of the ongoing US-China trade war. For Vietnam, it is an excellent opportunity to bolster growth and attract foreign direct investments (FDI) amid such tumultuous economic conditions. With the continuous economic development, Vietnam is poised to become an attractive destination for foreign investors who want to set up their companies offshore in the country .

The British Virgin Islands (BVI) lives up to its alias by being one of the foremost offshore financial centers underpinned with a thriving tourism sector. As the third largest cryptocurrency market in the world, BVI is no stranger to the FinTech industry. And as the FinTech industry evolves to encompass other business models, there is a need to foster advancements in the sector and assist startups in innovation .

Vietnam is enjoying an uptick in its overall economic growth. The main contributing factor to the country’s economic growth is its strong real estate markets, especially as Vietnam is verging to become the next luxury real estate hotspot. Furthermore, the Vietnamese banks have been seeing positive improvements in their overall performance. All these are drawing in waves of foreign investors who have expressed their interest in Vietnam’s banking sector .

Thailand seeks to introduce new tax incentives in a bid to attract more foreign investments. The country looks to elevate its economic status in ASEAN amidst the threats of a slowing economy as a result of the current trade tensions between the US and China. One initiative is the Thailand 4.0 which aims to have significant development and transformation of investments, thus increasing its attractiveness to foreign investors looking to incorporate in Thailand .

The Thai baht has been one of the top-performing currencies amongst emerging countries in Asia. The baht surged to 8.3% versus the dollar last year, and has seen the best growth globally in 2019. Given the incessant strengthening of the currency and its strong economy, many investors view Thailand as an upcoming financial and FinTech safe haven amidst the global trade war .