Rethinking the opportunity for SEA’s digital banks

More: Daraz’s CEO departs and the latest investment in sustainability-focused VC fund Shift4Good. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - The [hard realities]( facing Southeast Asia’s digital banks - A fresh investment into a sustainability-focused VC firm - Other newsy highlights such as the departure of Daraz’s CEO --------------------------------------------------------------- Hello {NAME} On a recent trip to Malaysia, one of my friends espoused the benefits of getting a credit card with Trust Bank Singapore, the digital bank developed by Standard Chartered and FairPrice Group. “They have zero annual fees, and they don’t charge forex for overseas spending,” she said, waving her phone - which displayed how much she’d spent with her card all over Resorts World Genting - in my face. I’ll have to admit, after seeing the numbers, I’m convinced, especially when I compare it to the rates on my credit card. (Note: This newsletter is not brought to you by Trust Bank. I’m just recounting my experience.) Anyway, where I’m going with this is that digital banks have the edge on legacy institutions by offering products and services that traditional players don’t or can’t. While digital banks have been touted as a solution to financial inclusion, their opportunity may not lie in the unbanked but in those of us who are not-so-happily banked, as we find out in today’s premium story. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Digital banking meets hard realities in SEA’s emerging markets]( Digital banks are finding out that the unbanked potential in Southeast Asia is a lot harder to tap than expected. --------------------------------------------------------------- TRENDING NEWS [Indonesia’s Indika Energy invests in mobility-focused fund Shift4Good]( The move lets Shift4Good – which counts Renault, Motul, and BNP Paribas as limited partners – tap into Indonesia’s EV space. [Daraz founder steps down, Lazada’s James Dong to become acting CEO]( Bjarke Mikkelsen became CEO at the Alibaba-owned Pakistani ecommerce firm back in 2015. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Hot or not: What SEA investors are betting on and what they’re ignoring]( VC funding can be a leading indicator of where in the tech industry we’re going to see more spending and jobs. ---------------------------------------------------------------  CONFERENCE LINEUP Check out Tech in Asia’s signature events lineup for 2024 [here](. - [Saigon Summit 2024 (30 May 2024)]( Join Tech in Asia’s very first Saigon Summit along with more than 700 other regional tech scene enthusiasts to make connections and create opportunities to catalyze the sector’s growth. - [Product Development Conference (June 2024)]( Gain insights from industry leaders, explore current trends, and learn best practices at our Product Development Conference in mid-2024. Sign up as early as now to get special rates for this two-day event in Jakarta. - [Tech in Asia Conference Kuala Lumpur 2024 (July 2024)]( For the first time ever, Tech in Asia Conference is coming to Kuala Lumpur! Join us in July as tech enthusiasts and industry experts across Southeast Asia get together for the region’s largest tech gathering. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Hub Associate - ASG Tower]( at GoWork Jakarta, Indonesia - [Customer Research]( at PT Allo Bank Indonesia Tbk Jakarta, Indonesia - [UX Writer]( at Koltiva Jakarta, Indonesia - [Community Officer Internship]( at Mediatics Digital Indonesia Jakarta, Indonesia - [Senior Trade Marketing/Event Organizer]( at Scout.inc Jakarta, Indonesia - [Business Consultant (IT Sales)]( at Juke Solutions Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Tech in Asia thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Copyright © 2024 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894