- Andre Yunque
And the World’s Biggest Adopter of Fintech Is…
Which country is the biggest adopter of fintech? Is it fintech powerhouse, Great Britain? Or is it its Southeast Asian rival, Singapore? Big Four accounting firm Ernst & Young recently surveyed over 22,000 “digitally active consumers” to find out and apparently, it’s neither.
According to the firm, China is the world’s biggest adopter of fintech, with 69% of its digitally active consumers using two or more fintech services in the last six months. Coming in second is India, with 52%, while rounding up the top three is the U.K., with 42%.
Interestingly enough, Hong Kong – which came in 11th place – bested Singapore with a 32% rate versus the Lion City’s 23%. Singapore, despite being Asia’s apparent fintech hub, only managed to post a 17th place showing.
In any case, here’s the top 15:
South Africa, 35%
Hong Kong, 32%
South Korea, 32%
Photo: faungg's photos