- 2021年3月10日

Comscore Snapshots: online finance in the Asia-Pacific region

In this week’s edition of Comscore Snapshots, we look at the usage of finance-related services in the Asia-Pacific region. Our analysis includes statistics for Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, Taiwan, and Vietnam.

We include websites and mobile apps that provide financial services such as online payments, banking, trading, insurance, personal finance, and investments. Examples include Paytm, Paypal, Alipay, and Dana.

Top line observations:

Table 1: Reach of online finance within the digital population is particularly high in India and particularly low in Vietnam. In terms of year-on-year growth, Indonesia and Australia stand out. In Indonesia, this is partly due to the growth of fintech solutions such as Dana and Ovo. In Australia, it is partly due to the increase uptake in services provided by Paypal, Adyen, and the Commonwealth Bank of Australia as well as stock trading services such as eToro.

Table 2: India has one of the largest digital populations in the world, and as a result the number of finance entities that reach 1% or more of the digital population is the highest in the APAC region.

As we discussed in our white paper “Digital and CTV trends to watch in 2021”, a combination of market size, openness, large talent pool, and intense competition will no doubt spur financial innovation that will influence the financial industry worldwide.

­­Table 3: A look at the largest financial entities in terms of reach shows that both traditional bricks and mortar banks as well as relatively young fintech companies are taking hold. Moreover, it appears that each country is growing its own mix of national champions. Given the fragmented regulatory background, it remains to be seen how much cross-border consolidation within that space is achievable in the coming years.


Table 1. Reach of online finance-related websites and apps

% reach of total digital population

Year-on-Year percentage points variation
(Jan 2021 vs Jan 2020)

Australia

34.8

9.8

China

52.6

-6.3

Hong Kong

35.2

-4.1

India

78.9

-3.8

Indonesia

58.8

15.3

Japan

23.1

-1.9

Malaysia

60.1

2.2

Singapore

31.6

3.8

Taiwan

35.3

-6.5

Vietnam

3.8

-1.3

Source: Comscore MMX Multi-Platform, Total Audience, Jan 2021, Asia-Pacific region. (N.B. desktop only for all markets except India, Indonesia and Malaysia which include mobile)

Table 2. Market competitiveness and consumer adoption of online finance-related sites and apps

Number of financel-related websites or mobile apps that reach more than 1% of the total digital population

Australia

12

China

19

Hong Kong

20

India

40

Indonesia

25

Japan

14

Malaysia

27

Singapore

18

Taiwan

19

Vietnam

0

Source: Comscore MMX Multi-Platform, Total Audience, Jan 2021, Asia-Pacific region.

Table 3. Top online finance-related sites and apps

Country

Entity

Description

Australia

Commonwealth Bank of Australia

Full-service bank

China

ALIPAY.COM

eCommerce payment platform

Hong Kong

HSBC

Full-service bank

India

PAYTM.COM

eCommerce payment system

Indonesia

DANA.ID

eCommerce payment system

Japan

Mitsubishi UFJ Financial Group

Full-service bank

Malaysia

Maybank Group

Full-service bank

Singapore

DBS Group

Full-service bank

Taiwan

CMoney Corporation

Investment and financial management company

Vietnam

VIETCOMBANK.COM.VN

Full-service bank

Source: Comscore MMX Multi-Platform, Total Audience, Jan 2021, Asia-Pacific region.