In South and Southeast Asia, the share of customers who obtained repeated advances on online platforms in 2019 amounted to 44%. The analysis of data of 1.2 million clients of Robocash Group in the region reveals that fintech loans have become widespread as they help people cover gaps in a budget. Remarkably, in 2019, the Philippines had the highest part of repetitive customers - 51%. The lowest share was in Vietnam – 31%.

The growing number of applications across the markets proves the surging interest in fintech loans among the population. In total, 46% of customers of Robocash Group in Europe and Asia obtained online credit only once in 2019. The figures within the Asian region are comparable. Thus, 51% of clients in India, 49% in the Philippines, and 54% in Indonesia had only one active loan in 2019. Vietnam stood out with a share of 69%.

The data confirms the urgency of most applications. In this sense, digital loans are increasing their meaning as a convenient tool to solve financial issues. The highest input to the popularity of alternative lending comes from digital technologies. According to the annual review by We Are Social, Internet penetration in Southeast Asia amounted to 66% in January 2020. With widespread unofficial employment and missing credit history among the local population, insufficient banking inclusion leaves an immense field for alternative financial solutions.



In some cases, other factors such as geographical landscape play their part too. That is shown by the example of the Philippines with the highest share of repeated customers among the four countries - 51%. With significant support to fintech from the local government, Filipinos are actively embracing digital solutions. Thus, they have kept global leadership by the time spent on the Internet and social networks and become third in the world by the adoption of mobile e-commerce (66%).

The share of repeated customers in India amounted to 49%. Taking second place in the world by fintech adoption stated by EY, the country sees a surging use of digital services by local people. Moreover, India had the highest increase in the number of Internet users in the world in 2019 (+23%).

Indonesia followed with 47% of customers who obtained several online advances during 2019. Aside from an increase in the number of Internet users by 17%, Indonesia has become the leader in the world by e-commerce adoption.

As the online lending industry is relatively new for Vietnam, the country stood in contrast. The share of repeated customers of the company equalled to 31% in 2019. While Internet penetration already amounts to 70%, it proves an immense potential for the overall fintech industry.

Robocash Group is an international financial group operating in the segments of consumer alternative lending and marketplace funding in Europe and Asia. The company develops robotic financial services providing micro consumer lending to customers in Russia, Kazakhstan, Spain, Indonesia, Vietnam and India and operates its own EU-based P2P investment platform. The group develops products completely in-house using artificial intelligence, machine learning and data-driven technologies to provide precise and comprehensive risk management, comfort and speed for customers and efficiency for business.

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