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%.
Trade Travel Journal|Every other fintech customer in Asia took repeated online loans in 2019|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%.
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.
