APAC region to surpass US by 2030 to become world’s largest fintech market

The Asia-Pacific (APAC) region, spearheaded by India, China and Indonesia, is poised to outpace the US and become the world’s top fintech market by 2030, at a projected compound annual growth rate (CAGR) of 27 per cent, according to a report on Wednesday.

These regions, which are an underpenetrated market with nearly $4 trillion in financial services revenue pools, have the largest fintechs, a voluminous underbanked population, a high number of small and medium-sized enterprises, and a rising tech-savvy youth and middle class, according to the report by Boston Consulting Group (BCG) and QED Investors.