In recent years,services provided by financial technology (FinTech) start-ups have gained prominence,and are increasingly impacting consumers, financialinstitutions and economies. Subsequently,ecosystems have emerged around these FinTechs,consisting of multiple interdependent and interconnected stakeholders.
A FinTech ecosystem is made up of consumers,financial institutions,FinTech start-ups,investors,regulators and educational institutions.The healthy development ofsuch an ecosystem will result in mutually beneficial cooperation among stakeholders,and eventually,help financial services be delivered at lower cost,higher speed and at better quality to more consumers.The development is particularly distinct in emerging markets where financial services present unique opportunitiesand challenges.
In FinTech ecosystem playbook, the teams bring you a panoramic view of a FinTech ecosystem in emerging markets in ASEAN,LatinAmerica,Central,Eastern and Southeastern Europe & Central Asia(CESA),the Middle East, Africa, and Asia-Pacific.
The regulators and policymakers in these emerging markets are actively seeking to develop attractive FinTech ecosystems through a range of policies and other interventions.This report highlights some leading practices and provides a summary of what is going on at the regional and country level.
The report will not be ranking the hubs as the objective is to help each hub learn from global peers and grow the industry as a whole. Sharing these leadingpractices and success stories with the global FinTech community, the team believes will help us make a difference, together.
EY teams express our gratitude to FinTech associations and ecosystem enablers, including Fintech Galaxy, FINNOVASIA and FinTech Consortium(FTC).
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