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Over 50% of global fintech investment in Asia-Pacific this quarter

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FINTECH (financial technology) companies in the Asia-Pacific received more than half of the US$5.3 billion in global investment in the first quarter, an Accenture report on Monday showed.

FINTECH (financial technology) companies in the Asia-Pacific received more than half of the US$5.3 billion in global investment in the first quarter, an Accenture report on Monday showed.

The fintech investment in this region, at US$2.7 billion, has jumped several times from US$445 million in the same period last year.

China has had the lion's share of fintech investment as at end-2015, accounting for 45 per cent of all fintech investments that flowed into the Asia-Pacific.

"The drive for fintech innovation is spreading well beyond traditional tech hubs," said Richard Lumb, Accenture's group chief executive, financial services, in a media statement.

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