At the recent SCB FinTech Forum by SCB and Digital Ventures, Mr. Jeffrey Paine, co-founder and managing partner of Golden Gate Ventures, leading venture capital firm investing across Southeast Asia, highlighted top business tech trends to watch in 2017.
1. B2B eCommerce – Welcoming differentiated commerce
Ecommerce relentlessly developed during the years as enablers of online businesses. A “Differentiated Commerce” means that successful deals now rely on “Good content, Strong community and Fine quality sales” and no longer on conventional platforms.
2. FinTech – Spearheading big data and credit scoring
In 2-3 years’ time, FinTech will significantly establish existence in the region. Big data will vastly multiply and next generation credit scoring will reach its coming of age, as ongoing now in Indonesia. Also, one-stop shop financial platforms will ease the ability to purchase insurance, acquire loans, and complete transactions at the tip of your hands.
3. Entertainment – Alternate media and transformed entertainment
2017 welcomes new selections of medium including the popular live streaming and short video platforms via mobile phones of the dynamic Gen Z.
4. Automotive Innovation – Nurturing B2B and B2C
Automotive innovation shines even brighter as solutions serving B2B and B2C demands such as carpark management software, car rentals, and automobile maintenance platforms etc.
5. Healthcare – Assisting elders in Thailand and Singapore
Medical and health institution will better serve their clients with data & analytics and IoT. This is particularly true in Thailand and Singapore which hold Southeast Asia’s largest aging population. Moreover, demands for telemedicine will increase especially in areas further away from the capital.
6. Enterprise SAAS will greater flourish
Enterprise software ex. cyber-security and AI will get its spotlight especially for customer service and sales management. Also, software for HR, finance, and accounting, will pick up.
7. Logistics – Long-hauls are coming
In 2017, technology and innovation for long-hauls or cross border transport will be further established as seen in Uber for long-haul trucking.
8. AgriTech - Innovation that enhances yield
Agriculture technology will gain its spot as seen in Vietnam where information analysis and farm yield software help improve agricultural performance. Additionally, Fintech will step in to creatively support lending in this sector.
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