Fintech firms in the Asia-Pacific region are working with established banks and financial institutions to implement technologies such as blockchain, artificial intelligence and biometrics, according to a report by LexisNexis Risk Solutions. The paper referred to a report by IDC Financial Insights finding that of fintech vendors that gain more than a third of their revenue from financial institutions, four of the top nine are in Asia. “ The report, which was released on Tuesday, said that more than half of all fintech companies operating globally have already implemented some form of distributed ledger technology, including bitcoin, Ethereum, Ripple and others. The dynamic contrasts with the way fintech firms in Europe position themselves as challengers to incumbent institutions.
Fintech firms in the Asia-Pacific region are working with established banks and financial institutions to implement technologies such as blockchain, artificial intelligence and biometrics, according to a report by LexisNexis Risk Solutions. The report, which was released on Tuesday, said that more than half of all fintech companies operating globally have already implemented some form of distributed ledger technology, including bitcoin, Ethereum, Ripple and others. The dynamic contrasts with the way fintech firms in Europe position themselves as challengers to incumbent institutions.