Asia-Pacific Cross-Border and Money Transfer Services Market Powered by Digitization and Data Analytics Market Report 2020-2021
DUBLIN, May 26, 2021 / PRNewswire / – The report “Digitization and Analytics Drives Growth in Asia-Pacific Cross-Border and Money-Transfer Services Market” has been added to ResearchAndMarkets.com from offer.
This study examines the strategic imperatives that impact the market, the drivers and restraints that influence the growth and the opportunities that participants can exploit to expand in this market. In terms of geography, the study examines Australia, New Zealand, China, Indonesia, Thailand, Malaysia, Singapore, Hong Kong, Vietnam, India, and The Philippines.
The year 2020 was marked by a pervasive disruption, caused by the COVID-19 pandemic, which created growth opportunities for providers of cross-border services and remittances. The market has seen an increase in digital adoption rates (15% year-on-year growth rate in 2020).
Rapidly evolving technologies, changing customer expectations and the changing regulatory landscape are driving the automation of cross-border services and remittances. Innovation in fintech – from mobile remittances to mobile payments to cryptocurrency – has caught the attention of customers, regulators and market players.
From the perspective of service providers, these rapid changes can threaten the traditional structure of the financial space; however, they can also open up opportunities for business growth.
The ubiquitous nature of mobile phones provides the platform for consumers to deliver convenient and secure digital financial services without the hassle. For example, with digital remittance services, consumers can complete remittance transactions without having to visit a bank or physical store.
Additionally, as digital financial services evolve and prices for mobile devices and data services become more reasonable, the merging of solutions and platforms means that trading can be done on all devices. Consumers will also be looking for more channels where they can spend the digital currency they have received from their home country. As a result, suppliers need to create flexible solutions that can make adjustments quickly and transparently while continuing to find sustainable sources of revenue.
Digital channels in remittance and payment as a platform as a service (PaaS) solutions have received a boost due to dynamic consumer behavior; However, to deliver an improved customer experience, a thorough review of the technology is needed. Neo-banking technology developers and vendors will continue to innovate, deliver new features and services, and leverage new business models to increase the attractiveness and adoption of PaaS to a larger audience. large. Agile development, cloud architecture and mobile solutions first will be the primary catalysts for accelerated innovation and profitable supplier operations.
New modularly designed business solutions – in which financial service providers can process transactions at the edge of the network without having to use premises-based systems – are expected to impact demand for payment and transfer platforms. of white label funds. These innovative offers will allow emerging fintech providers and micro-businesses to have payment capabilities in their wallets, i.e. they won’t have to develop them from scratch.
Main topics covered:
1. Strategic imperatives
- Why is it more and more difficult to grow taller?
- The strategic imperative
- The impact of the three main strategic imperatives on the cross-border services and remittances sector in Asia-Pacific
- Porter’s 5 Forces – An Analysis
- Porter’s five forces for investors
- Growth opportunities fuel the growth pipeline engine
2. Analysis of Growth Opportunities – APAC Cross Border and Money Transfer Services Market
- Scope of analysis
- Key growth indicators
- Growth drivers
- Growth restrictions
- Forecast assumptions
- Forecast transaction value
3. Analysis of growth opportunities – Malaysia
- Market analysis
- Competitive structure
- Key trends
4. Main trends
- Trend 1 – Real-time cross-border settlement will enable global digital payments
- Trend 2 – The use of technology in payments will continue to increase
- Trend 3 – Payment as a Service Platform (PPAS) model will play an important role in shaping the industry ecosystem
5. Universe of growth opportunities
- Growth opportunity 1: digital money transfer platforms
- Growth opportunity 2: Blockchain-based solutions for fast and affordable remittances
- Growth opportunity 3: Other financial services for better financial inclusion
6. Companies to watch – Asia Pacific
7. The last word
For more information on this report, visit https://www.researchandmarkets.com/r/khvo8r
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SOURCE Research and markets