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Fintech firms must focus on sustainable growth as sector faces headwinds: Industry players
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Fintech funding in Singapore dropped 15 per cent in the first half of 2022 compared with the previous six months.
ST PHOTO: LIM YAOHUI
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SINGAPORE - Fintech firms must focus on sustainable growth as the industry continues to grapple with headwinds from higher tech costs and cautious investors amid ongoing economic uncertainty.
Industry players told The Straits Times on the sidelines of the flagship Singapore FinTech Festival that they expect greater consolidation in the sector, with weaker players being snapped up by larger peers or banks that are deepening their presence in the ecosystem.
