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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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<li>T<i>emenos’ cloud-native, AI-powered technology was recognized for leadership in nine categories, up from six last year</i></li>
<li><i>#1 Core Banking System for 16 consecutive years, more than 2X the number of deals of the 2nd placed vendor</i></li>
<li><i>#1 in Digital Banking and Channels for the 5th year in a row, with 3X more deals than the next competitor</i></li>
<li><i>#1 in Retail Payments for the 3rd year running, with 3X more deals than the next competitor</i></li>
<li><i>#1 for Neo Banks and Challenger Banks with 17 more deals than the next vendor</i></li>
<li><i>Temenos also ranked as a regional leader in the Americas, APAC, Europe, and Middle East and Africa</i></li>
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