Business Wire

Deloitte Launches < "The Next Wave" Emerging Digital Life in South and Southeast Asia > Report At Ant Group’s INCLUSION Fintech Conference

Share

Deloitte launched <"The Next Wave" Emerging Digital Life in South and Southeast Asia > Report today at the INCLUSION Fintech Conference, organized by Ant Group and Alipay to foster a global dialogue on building a more inclusive, green, and sustainable world through digital technology.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200924005941/en/

(Graphic: Business Wire)

(Graphic: Business Wire)

Through an extensive survey conducted across age groups in eight countries in South and Southeast Asia, specifically Singapore, Malaysia, Thailand, Indonesia, the Philippines, India, Bangladesh and Pakistan, the report showed that consumers aged between 21 and 40 years old are the leading force enabling the rapid adoption of a digital life in the region in the post Covid-19 world.

Speaking at one of the media forums on Day 2 of INCLUSION, Taylor Lam, Technology, Media & Telecommunications Industry Leader at Deloitte China, said: “Young and vibrant economies in South and Southeast Asia are rapidly becoming the ‘next wave’ of future leaders in digital economy. The combination of a relatively large, young, unbanked and underbanked population, high mobile penetration and supportive local governments has helped the region leapfrog in its digital infrastructure and innovations, which has accelerated the adoption of digital payment and the expansion of daily digital life scenarios in the region.”

“Through our research, we have seen great potential for these digital economies to continue maturing and become more inclusive, more convenient and secure, and more sustainable, which will benefit their recovery from the impact of the Covid-19 pandemic.”

Key regional insights:

1. Digital payment as a key enabler is creating and connecting the digital life for consumers, making a fundamental shift in how people live, work and play.

  • Since the outbreak of Covid-19, about 78% of the research participants indicated that they have experienced some increases in the usage of digital services, in which 41% indicated a surge.
    • Bangladesh, the Philippines and Indonesia are the top three countries seeing the highest increase in usage.
  • Singapore, the Philippines and Indonesia are the top three most active countries in using digital payment.
  • Top three most common daily life scenarios where consumers choose to use digital payment are:
    • e-commerce/m-commerce (70%)
    • peer-to-peer transfer (69%)
    • in-store purchase (62%)
  • Majority of digital payment transactions are small in value, 67% of research participants indicated that the average value per transaction is less than USD30 per person. This indicates that digital payment has penetrated consumers' daily life and has become the mainstream to meet their everyday needs.
  • Top three reasons why consumers opt to use e-wallet include:
    • Convenience (77%)
    • Contactless (69%)
    • Value-added benefits and promotions (9%)

2. Consumers in South and Southeast Asia enjoy the breadth and depth of daily life scenarios supported by digital services.

  • Top five most popular mobile apps among consumers in the region are:
  • Entertainment
    • Social media (79%)
    • Music/video streaming (50%)
  • E-commerce/m-commerce (74%)
    • Convenience, Product variety and Low price are the top three reasons for consumers to choose to shop online
  • Daily life services (59%)
    • Ride-hailing, News and Books and Workplace Collaboration are the top three most often used mobile apps in the category
  • Financial services (45%)
    • Mobile banking and digital payment are the most used mobile apps in the category

3. Driven by the rising digital payment adoption and richness in daily digital life scenarios, South and Southeast Asia region is presenting an exciting digital future.

Regional Digital Life Index is developed based on the research and on a series of parameters including mobile penetration, internet maturity and penetration, digital payment maturity, e-commerce maturity, social media activeness and local government support.

  • Singapore, Malaysia and Indonesia are the “Digital Life Leaders”, leading the race across all parameters
  • Thailand and the Philippines stood out as the "Digital Life follower"
    • Thailand shows a high level of mobile penetration, social media activeness, digital payment and e-commerce maturity
    • The Philippines is leading in digital payment adoption, especially peer-to-peer transfers and gaming industry
  • India is classified as the "Digital Life Potential", leading in the space of cybersecurity
  • Bangladesh and Pakistan are considered "Digital Life Catcher "

This report is produced by Deloitte in partnership with the INCLUSION Fintech Conference. Assembled at the event are the leading enterprises, experts and scholars of the financial and technology communities, to discuss global cooperation and innovations in the fields of finance, economy, commerce and environment.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.

Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our global network of member firms and related entities in more than 150 countries and territories (collectively, the “Deloitte organization”) serves four out of five Fortune Global 500® companies. Learn how Deloitte’s approximately 312,000 people make an impact that matters at www.deloitte.com.

Deloitte Asia Pacific Limited is a company limited by guarantee and a member firm of DTTL. Members of Deloitte Asia Pacific Limited and their related entities, each of which are separate and independent legal entities, provide services from more than 100 cities across the region, including Auckland, Bangkok, Beijing, Hanoi, Hong Kong, Jakarta, Kuala Lumpur, Manila, Melbourne, Osaka, Seoul, Shanghai, Singapore, Sydney, Taipei and Tokyo.

The Deloitte brand entered the China market in 1917 with the opening of an office in Shanghai. Today, Deloitte China delivers a comprehensive range of audit & assurance, consulting, financial advisory, risk advisory and tax services to local, multinational and growth enterprise clients in China. Deloitte China has also made—and continues to make—substantial contributions to the development of China's accounting standards, taxation system and professional expertise. Deloitte China is a locally incorporated professional services organization, owned by its partners in China. To learn more about how Deloitte makes an Impact that Matters in China, please connect with our social media platforms at www2.deloitte.com/cn/en/social-media.

This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms or their related entities (collectively, the “Deloitte organization”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.

No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.

© 2020. For information, contact Deloitte China.

About Inclusion Fintech Conference

The INCLUSION Fintech Conference was officially announced in January 2020 to bring together the global financial and technology communities, to envision a world that is more inclusive, green, and sustainable through digital technology. The inaugural three-day conference in Shanghai, to be held September 24-26, 2020, will feature over 40 forums, with keynotes and panels covering major themes such as the global digital economy, digital finance, innovative technology, and sustainability.

Contact information

Media
Annie FangTel: 86 21 6141 2751
Email: afang@deloitte.com.cn

INCLUSION Fintech Conference
Daryl Loo
looliatliang.dlll@antgroup.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

PerkinElmer Launches Industry First No-Wash Immunoassay For Phospho Ubiquitin Ser65 to Help Drive Neuroscience Disease and Therapeutics Research Forward26.10.2020 20:05:00 CETPress release

PerkinElmer, Inc., a global leader committed to innovating for a healthier world, today launched the life science industry’s first no wash Ubiquitin phosphorylation at Serine 65 immunoassay for studying defective mitophagy biological mechanisms that have been broadly associated with diseases such as Parkinson’s and Alzheimer’s. The https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.cisbio.eu%2Fphospho-ubiquitin-ser65-cellular-kit-44930&esheet=52314112&newsitemid=20201026005820&lan=en-US&anchor=new+PerkinElmer+Cisbio+HTRF%26%23174%3B+Phospho-Ubiquitin+%28Ser65%29+Cellular+Kit&index=2&md5=c03392c571335691d83031ec057300f1 new PerkinElmer Cisbio HTRF® Phospho-Ubiquitin (Ser65) Cellular Kit takes analysis efficiency and accuracy to the next level compared to existing techniques such as Western blot and is aimed at helping scientists discover new therapeutic candidates earlier in the disease cycle. The innovative assay leverages TR-FRET technology to bring high sensitivity

NetApp Brings Optimization and Enterprise Data Services to the Cloud26.10.2020 17:00:00 CETPress release

Global, cloud-led, data-centric software company NetApp® (NASDAQ: NTAP) today unveiled a groundbreaking serverless and storageless solution for containers from Spot by NetApp, a new autonomous hybrid cloud volume platform, and cloud-based virtual desktop solutions. NetApp’s new capabilities help simplify and optimize multicloud management for the highest performance at a low cost, offering true portability for data-rich cloud applications and delivering comprehensive workplace solutions across hybrid cloud environments. “To thrive in the new normal, digital transformation has become a business imperative. To succeed, businesses need to optimize their hybrid multicloud IT architectures,” said NetApp CEO George Kurian. “No matter where customers are on their transformation journey, NetApp can help them build a data fabric to maximize the value of their data, ensure applications are running optimally, and unlock the best of cloud.” The new features and capabilities that NetApp introduced

omni:us Welcomes Insurance Veteran Antonio Derossi to Drive Growth Across US and Europe26.10.2020 16:00:00 CETPress release

omni:us, the insurance claims AI solution provider, welcomes Antonio Derossi as a member of the omni:us Senior Executive Advisory board. Mr. Derossi, with 20+ years of experience in various roles across insurance, consulting, and venture capital, will function as a key advisor on go-to-market and product optimization strategies for the North American and European insurance markets. omni:us seeks to fortify its position as global pioneer of insurance claims transformation with the expert support of Mr. Derossi. Both parties see automation as a defining element of future claims management systems. Mr. Derossi’s understanding of the intricacies of the American and European insurance space will support increased market penetration for the Berlin-based omni:us. He will also act as an effective liaison to insurance companies, solution providers and consulting partners across both continents. Derossi was born in Trieste, Italy. He holds a Laurea degree in physics from Trieste University, and

Dahua Sponsors Omdia Webinars on Next Generation Network Cameras26.10.2020 14:45:00 CETPress release

Dahua Technology, a world-leading video-centric smart IoT solution and service provider, has sponsored one white paper and two webinars hosted by Omdia. The theme of the webinars held on October 22nd is Solving security challenges: Next-generation network cameras. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201026005466/en/ (Photo: Business Wire) Omdia is the new global technology research powerhouse, established in 2019 with the combination of the Informa Tech’s research brands (Ovum, Heavy Reading, and Tractica) and the acquired IHS Markit technology research portfolio. Collaborating with Dahua Technology, the comprehensive webinar has attracted about 1200 registrations. Audiences are experts from various industries such as energy, finance, education, government, retail, etc. With webinar events experts from Omdia, Dahua Technology’s Senior Project Sales Manager Simon Nash and Omdia’s analysts Josh Woodhouse and Tommy Z

26 th Yiwu Fair Concludes with Success, Reaching Deals Worth Millions in Small Commodities26.10.2020 14:36:00 CETPress release

The 26th China Yiwu International Commodities (Standards) Fair concluded in Yiwu on October 25, 2020. As the first large-scale foreign trade exhibition presented both online and offline in China amid regular epidemic prevention and control, Yiwu Fair 2020 provided more than 3,400 standard booths with an exhibition area of ​​100,000 square meters at the Yiwu International Expo Center, and attracted nearly 2,000 companies from 19 domestic provinces, municipalities and autonomous regions, covering categories of hardware, electromechanical facilities, electronic & electrical appliances, daily necessities, crafts & ornaments, stationery & office goods, toys, sporting & outdoor products, knitwear, and gift packaging. The Fair attracted a total of 106,000 offline visitors and 160 million online views. Seven overseas online matchmaking sessions were held targeting the United Kingdom, Malaysia, Chile, etc., and achieved an intended turnover of $4.66 million. While expanding the international ma

Interactive Brokers Launches Innovative Sustainable Investing Tool26.10.2020 14:18:00 CETPress release

Interactive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today unveiled an innovative, interactive Impact Dashboard designed to help clients evaluate and invest in companies that align with their values. The dashboard, which is free for all clients to use, sets a new standard for tools that can be used for sustainable, socially responsible, and values-based investing. The launch comes as interest in Environmental, Social and Governance (ESG) investing is soaring. ESG assets are expected to top $53 trillion by 2022, according to research released in September by Celent. “The future of sustainable investing begins with the Impact Dashboard, which allows investors to align their portfolios with their values,” said Will Peterffy, ESG Director at Interactive Brokers. “In a world lacking transparency, the dashboard quickly analyzes and grades your stock portfolio based on your values and presents your holdings through a personalized ‘impact lens’. You can then decide whether to kee