Can inclusion power Singapore’s fintech boom?

  • Central bank priority... The Monetary Authority of Singapore has made “financial inclusion” a top priority for the city-state’s fintech investment scene.
  • Capital gap… More than 2.9 million small- and medium-sized enterprises is Southeast Asia and Australia face a credit gap of more than $187 billion.

Closing the remaining gaps in global financial inclusion

  • Some gaps are closing... the global share of adults with a bank account at a financial institution or through a mobile money service grew seven percentage points to 69% since 2014.
  • Gaps persist: Women remain nine percentage points less likely than men to have a bank account in emerging markets.

TPG puts $1 billion behind $1.9 billion Baidu fintech spinoff

  • Is this impact?… Lack of standardized credit scoring and reporting has limited access to credit and debt for low- and middle-income Chinese. Baidu is a part of the World Bank’s Universal Financial Access 2020 initiative.
  • TPG in Asia… The deal is the Rise Fund’s first China-based investment and the first for Chang Sun, the former Warburg Pincus executive who joined TPG as managing partner in China last year.