Proceedings of the Business Innovation and Engineering Conference (BIEC 2022)

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Seizing Opportunities: The Race Toward Digital Banking in ASEAN

Authors
Yudha Pradipta1, Asaduddin Abdullah2, *, Suhendi2
1Faculty Economic and Management, IPB University, Bogor, Indonesia
2School of Business, IPB University, Bogor, Indonesia
*Corresponding author. Email: asaduddin.abdullah@apps.ipb.ac.id
Corresponding Author
Asaduddin Abdullah
Available Online 15 May 2023.
DOI
10.2991/978-94-6463-144-9_34How to use a DOI?
Keywords
Digital Adoption; Digital Bank; Digital Readiness; Southeast Asia
Abstract

The Southeast Asia (ASEAN) stands as one of the compelling markets for digital banks to grow due to its large population and fact that financial inclusion still be an issue for the region. Within the region, Commercial banking is still the backbone of the region’s financial system, but Regulators in various Southeast Asia countries have started to issue guidelines for digital banking licenses in their respective countries. We found that in general, there is a different regulatory approach in Southeast Asia in which the requirement is less stringent during the initial start-up period versus the commercial banks such as Indonesia, Singapore, and Malaysia. Several countries such as Singapore and Malaysia also limit the issuance of digital banking licenses. Additionally, regulators also seem to give some business restrictions for the pure digital bank during the initial period to prove the business model and limit the potential impact should they fail. We also conducted a country-level analysis to identify the readiness of ASEAN members bloc to adopt digital banking using two dimensions, which are room for growth and state of readiness. The findings have highlighted ASEAN is a highly diverse region.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the Business Innovation and Engineering Conference (BIEC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
15 May 2023
ISBN
10.2991/978-94-6463-144-9_34
ISSN
2352-5428
DOI
10.2991/978-94-6463-144-9_34How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yudha Pradipta
AU  - Asaduddin Abdullah
AU  - Suhendi
PY  - 2023
DA  - 2023/05/15
TI  - Seizing Opportunities: The Race Toward Digital Banking in ASEAN
BT  - Proceedings of the Business Innovation and Engineering Conference (BIEC 2022)
PB  - Atlantis Press
SP  - 343
EP  - 353
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-144-9_34
DO  - 10.2991/978-94-6463-144-9_34
ID  - Pradipta2023
ER  -