WITH more than 660 million people living in Southeast Asia, this culturally rich and diverse region is considered one of the fastest-growing regions in the world with a projected gross domestic product of $4.7 trillion by 2025.

As many experts have noted, the region's financial services industry is ripe for financial innovation and evolution. But as of 2019, at least 70 percent of the region's consumers remain 'unbanked' and 'underbanked,' and 70 percent of small and medium enterprises (SMEs) still prefer to accept cash payments.