Southeast Asia’s fintechs fill lending hole with knowledge

SINGAPORE/JAKARTA — Southeast Asian fintech startups are extending credit score to youthful debtors, a lot of whom have restricted entry to conventional monetary companies, at the same time as a number of the area’s largest lenders rush to digitize their companies.

So-called purchase now, pay later companies and digital banks are rapidly plugging a big lending hole within the area, as widespread adoption of smartphones and using e-commerce platforms permits fintechs to acquire buyer knowledge and display screen even these with little or no credit score historical past.