Harnessing Technology for Moe Inclusive and Sustainable Finance in Asia and the Pacific

This brief report documents facts of financial innovation in Asia and the Pacific that include: • Fintech redefines a specific sector at the intersection of financial services and technology sectors. • Country-level development—access to technology has grown rapidly in the region, and the +3 economies comprising of People’s Republic of China, Japan, and the Republic of Korea have become the leading players in global fintech innovation. • Service-level development—the application of mobile internet access to payment services is the most innovation active area, while the use of artificial intelligence, big data, and distributed computing to transform traditional banking services is also popular. • Firm-level development—fintech innovations do not only come from technology start-ups, but also from large commercial banks, incumbent computer and software companies, and from manufacturers.