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Fintech adoption in Singapore still lags global rate, says EY

Size of the market allows easy access to many traditional, non-fintech products and services

Published Tue, Jul 18, 2017 · 09:50 PM

Singapore

SINGAPORE'S fintech adoption rate continues to be below the global average of 33 per cent, despite the increase from 15 per cent in 2015 to 23 per cent in 2017, according to the latest Ernst & Young (EY) FinTech Adoption Index.

This comes as Singapore draws more fintech companies and services, such as Lufax's first overseas online wealth management platform, as announced on Monday.

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