Asian P2P market tipped for boom
The Asian peer-to-peer lending sector has been tipped for a boom, thanks to rapid uptake of fintech solutions, a tech-savvy population and demand for business funding.
Speaking at the Finfellas P2P conference in Riga, Latvia, Robo.cash’s Anastasia Palamarchuk said that the Croatia-based P2P lending platform sees “strong potential” for the Asia fintech market.
She said that the main drivers of market growth in Asia include a low level of financial inclusion.
“There are also other factors, such as strong state support, the income level and debt burden of the population, and the pandemic that boosted digital technologies,” Palamarchuk added.
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Robo.cash highlighted six actively growing market segments in Asian fintech, including alternative online loans, e-commerce and micro, small and medium-sized enterprise (MSME) lending.
In 2020, MSMEs accounted for 97 per cent of all enterprises in the region and produced 40.5 per cent of the regional GDP.
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Robocash Group – the parent company of the Robo.cash platform – is based in Singapore. Palamarchuk revealed that the Robocash Group plans to focus on digital banking by building out its variety of services, from loans to cross-border transfers.
“As global digitalization advances, banking and brokerage services have become a valuable asset for organizations,” she added.
“As practice shows, European P2P platforms can work quite successfully here. And Robo.cash is just one of them.”
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