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Jakarta Post

Analysis: API adoption and the future of ecosystem capabilities

  • Harianto Gunawan

Jakarta   /   Tue, June 6 2017   /  12:20 am

Financial technology (fintech), refers to an emerging technological innovation in the financial sector, including innovations in promoting financial literacy and education, retail banking, investment and crypto-currencies. For entrepreneurs and start-ups, fintech is a jewel in the desert, offering a wide variety of services ranging from crowdsourcing to mobile payments that help them set up and expand their businesses in more efficient ways.A decade ago, there were around 850 fintech companies in the world, and today the number has soared to up to 3,100. Fintech investments, specifically in the Asia-Pacific region, skyrocketed from about US$880 million throughout 2014 to nearly $3.5 billion in just the first nine months of 2015. Last year, global fintech investments rose 75 percent to $22 billion. The Asia-Pacific region saw growth more than quadruple to $4.3 billion, coming mostly from ...