Charting a sustainable future

Bank on digital, financial literacy to propel wealth in South-east Asia

Digitalisation is proving to be both a blocker and an enabler of prosperity in the region

E-payment logos seen at a food stall in Vietnam. Across South-east Asia, growing smartphone usage has led to a higher roll-out of financial products online but these may not reach those lacking financial or digital know-how. PHOTO: REUTERS
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SINGAPORE - Having grown steadily over the past 20 years, South-east Asia's personal wealth is at an inflection point, with the region's economy maturing as the adoption of technology accelerates.

For example, South-east Asia's Internet access is at 58.6 per cent, higher than the global rate of 50 per cent, and its digital payments are expected to exceed US$1 trillion (S$1.34 trillion) in transaction value by 2025.

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