Asia Pacific Fintech Making a Mark
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Asia Pacific Fintechs Making a Mark in the Industry

Banking has to work when and where you need it. The best advice and the best service in financial services happen in real time and is based on the customer behavior, using principles of Big Data, mobility and gamification. – Brett King.

Fintech leverages artificial intelligence (AI), natural language processing, machine learning and data analytics coupled with other latest technologies to develop innovations designed to help and support financial institutions address myriad of challenges they face. This includes analyzing large volumes of data (structured and unstructured), keeping up with compliances, customer service, moving money and offering more personalized solutions for customers.

The APAC region has been leading with regards to emerging Fintech start-ups and as financial technologies are growing rapidly across the globe, the Asia Pacific region is fairing well too. Fintech is growing at such a pace that start-ups have the potential to turn themselves into companies worth more than $1 billion and add their name to the list of tech unicorns. From simple payments to lending, insurance to wealth management and compliance, Fintech has embraced the traditional financial market by tapping unmet customers’ needs coupled with offering better financial services.

Read More: GlobalFintechSeries Interview with Vincent Bezemer, SVP Americas at Backbase

Here we present a roundup of the top Fintechs making a mark in the APAC region. Take a look:

  1. Flowcast

Singapore based enterprise scale machine learning (ML), Flowcast offers a unique and effective approach to credit decisions. The technology offers API based solutions based on which the financial institutions can deploy the ML models to understand the complex data and turn them into actionable insights. It offers solutions for credit decisions, collections, deduction claims and paycheck protection.

  1. Bitflyer

Founded in 2014, this Japan based fintech start-up Bitflyer has been featured in Nasdaq, CoinDesk, Wall Street Journal, Bloomberg and many others. Biflyer is a global company helping traders to trade in Bitcoin, Ethereum and much more. Bitflyer is one of the first cryptocurrency exchanges enjoying licenses to operate all across Europe, the US and Japan. The start-up is one of the most trusted online crypto exchanges in the Japanese market.

  1. Symbo

Symbo is a digital insurance platform digitizing insurance distribution in partnership with various insurance companies. Symbo is an award winning mobile app helping insurers engage with their intermediaries, agents and financial advisors online and simplify their insurance transactions. Symbo Insurance offers insurance in the areas of health, travel, term, bike, ULIP, business and commercial vehicle.

  1. MyFinB

With the help of MyFinB, different organizations can co-own AI based intellectual property assets without any need of investing any capital. They are offering 6X productivity, personalised solutions, easy risk analysis and 360 degree insights to get more customers along with enhancing the ability to upsell and cross-sell financing solutions.

  1. Payswiff

Payswiff is a digital POS device packs and it is empowered with something more than the regular POS devices available. It is designed with dual connectivity and a bigger colored TFT display, and with such capabilities, businesses can handle significant number of transactions. It offers products for enterprises, merchants, banks & PSP’s and for tax compliances as well.

  1. Staple

Singapore based Staple is an AI powered solution aiding to reduce the back office operations like onboarding check, compliance and so on. The solution seamlessly blends computer vision, natural language processing, optical character recognition and machine learning, and can read, interpret, and extract data from the available documents irrespective of their layout, language or format.

  1. Fano Labs

Fano Labs is one of the most renowned AI based Fintech start-ups in Greater China. Founded in 2015, the solution specializes in natural language processing, Automatic Speech Recognition to offer enterprise level solutions for better customer service, compliance and myriad of other business activities. It is trained and tested to deal with massive data, and the solution can accurately recognize text in Mandarin, English, and many other minority languages.

Read More: GlobalFintechSeries Interview with Andrew Butt, Co-founder and CEO at Enable

  1. Knight FinTech

One of the best FinTech solutions for the bank’s treasury team, Knight Fintech is a Singapore-India based start-up offering fantastic SaaS based treasury management, AI powered credit assessment platform to help the banks and financial firms to increase or decrease risk. It features an interest rate and credit risk model analyzing millions of data points to provide actionable insights to managers. With Knight Fintech at hand, managers can know and understand the yield curve and take their corporate credit risk exposure ahead.

Asia is home to most of the developing countries with more young people relying more on their smart phones for their daily transactions. The fire to utilize FinTech in daily lives has already been ignited and these Fintech start-ups are proof of the same.


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