Asia Banking Research

Jun

P2P lenders in South Korea clear hurdle with successful registration

Earlier this year, it was unclear if peer-to-peer (P2P) lending had a future in South Korea. Legislation passed in August 2020 to curb malfeasance in the industry had made it harder to operate legally. This legislation banned P2P lenders from lending money they borrow from commercial banks and required they…

Jun

Asia Banking Research

Profitability is a ways off for Hong Kong’s virtual banks

In their first year of operation, Hong Kong’s virtual banks all lost money. Ant Bank lost the least at HK$172 million while Standard Chartered-backed Mox Bank lost the most at HK$456 million, according to the banks’ respective annual reports. While it is still early days for Hong Kong’s digital lenders,…

Jun

Asia Banking Research

Digital banking heats up in the Philippines

For digital banks, the Philippines is among the most promising markets in Southeast Asia because of its large overall size (population 110 million) and significant unbanked population. About 71% of adults in the Philippines people lack a bank account, but more than 2/3 of the population has a smartphone. Thus…

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Asia Banking Research