Unveiling the landscape of Fintech in ASEAN: assessing development, regulations, and economic implications by decision-making approach

Chia-Nan Wang, Nhat-Luong Nhieu () and Wei-Lin Liu
Additional contact information
Chia-Nan Wang: National Kaohsiung University of Science and Technology
Nhat-Luong Nhieu: National Kaohsiung University of Science and Technology
Wei-Lin Liu: National Kaohsiung University of Science and Technology

Palgrave Communications, 2024, vol. 11, issue 1, 1-16

Abstract: Abstract Fintech has gained immense importance as a catalyst for economic growth, trade enhancement, and global prosperity. This study aims to comprehensively assess the influence and potential of Fintech in the Association of Southeast Asian Nations (ASEAN) countries. The research objective is to evaluate the levels of development in financial activities, technology infrastructure, and Fintech-enabling regulations across the region. A robust decision-making framework combining numerical and linguistic assessments is applied, utilizing the Distance-based CRiteria Importance Through Inter-criteria Correlation (DCRITIC) method and the Fuzzy extension of Evaluation based on Distance from Average Solution (F-EDAS approach). The findings reveal varying levels of development among ASEAN countries about Fintech. Governments and policymakers are urged to prioritize the creation of a supportive environment for Fintech innovation to spur economic growth, attract investments, and foster digital transformation. The study is limited because the weights of the key regulations have not been investigated.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://link.springer.com/10.1057/s41599-023-02581-2 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palcom:v:11:y:2024:i:1:d:10.1057_s41599-023-02581-2

Ordering information: This journal article can be ordered from
https://www.nature.com/palcomms/about

DOI: 10.1057/s41599-023-02581-2

Access Statistics for this article

More articles in Palgrave Communications from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().