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Only 5% of The World Challenger Banks Are Profitable, Most of Them Are From Asia

Out of the 50 digital challenger banks operating in Asia Pacific (APAC), just ten operators are profitable. These providers are primarily located in China and Japan, indicating that the two nations offer the most mature and developed digital banking landscapes in the region, according to a new analysis by the Boston Consulting Group (BCG).
In a new report titled Emerging Challengers and Incumbent Operators Battle for Asia Pacific’s Digital Banking Opportunity, BCG looks at the neobanking and digital banking landscape, and explores why Southeast Asia and India are emerging as the next growth markets.
50 Digital Challenger Banks in APAC, Source: Emerging Challengers and Incumbent Operators Battle for Asia Pacific’s Digital Banking Opportunity, BCG, June 2021 ....

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India offers huge potential for digital challenger banks, says report

Read more about India offers huge potential for digital challenger banks, says report on Business Standard. But currency depreciation and local regulations are concerns for foreign investors: Report ....

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India offers huge potential for digital banks: Report

Leading consultancy BCG said in the report on Wednesday that the revenue opportunity in India, which has a population of 130 crore people, was pegged at being up to ten times higher than that of rest of South East Asia. ....

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As digital banking grows in Southeast Asia, so do the security risks

Natalya Burova / Getty Images
One of the key trends in the Southeast Asian banking sector is the growing adoption of digital banking and the entry of new providers from nonbanking and tech backgrounds. Driving this adoption is evolving customer expectations and enhanced digital penetration, combined with the desire to serve the underbanked segments of society. But with that growth come an increase in security risks for digital banks and their customers alike.
Why digital banking is growing in Southeast Asia
According to a report by the Boston Consulting Group (BCG), published in December 2020, “the COVID-19 pandemic has accelerated this trend, as enforced digital transitions have embedded a more immediate impetus for change. These drivers will see Southeast Asia’s digital banking opportunity expanding significantly in coming years, reflecting a trend which has seen over 200 new digital banks established globally over the last decade.” ....

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