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Ascend Money to grow customer base to 100 million by 2020
"Some workers still give their salaries to bus drivers, who will deliver that money three days later to their parents in the rural areas. Such informal channels still exist and we see that as an opportunity." - Ascend president Tanyapong Thamavaranukupt (above).
PHOTO: ASCEND MONEY
Singapore
ASCEND Money - a South-east Asian financial technology firm backed by e-commerce giant Alibaba and Thai conglomerate CP Group - aims to grow its customer base by about five times to 100 million consumers by 2020, by actively tapping the unbanked population in this region.
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