Major banks are poised to escalate their participation in financial technology projects across Asia-Pacific as mainland China continues to drive these investments in the region, according to industry experts. The South China Morning Post reports that global management consulting company Accenture has estimated that fintech investments in Asia-Pacific grew 517 per cent in the first quarter to US$2.7 billion, up from US$445 million in the same period last year, on the back of initiatives in the world’s second-largest economy. The Asia-Pacific investments last year more than quadrupled to reach a record US$4.3 billion, the firm said. The region is now the world’s second-biggest geographic market for fintech investments after North America.
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