AFG’s growth strategyBuilding a seamless fintech ecosystem under...

AFG’s growth strategyBuilding a seamless fintech ecosystem under one umbrella will make AFG a one-stop provider, catering to the financial needs of modern consumers who are increasingly digital.Southeast Asia’s modern consumers and its fintech industry are indeed growing very rapidly, due to the high percentage of the population being connected online.According to a report from ratings company Fitch, 70% of the Southeast Asian population now have access to the internet, compared to just 46% in 2016.After consolidation, AFG will have more than five licensed fintech platforms under its belt in the ASEAN region.In total, the portfolio companies under the AFG umbrella have generated gross transaction value (GTV) of approximately US$82 million (A$113 million) in January 2022 alone.Fatfish says it intends to grow the portfolio further by following a three pronged strategy.First, it will keep identifying, attracting and acquiring early-stage fintechs in Southeast Asia that have clear synergies with AFG’s existing three core verticals.Secondly, Fatfish will integrate the talents, business, and technologies of the newly acquired fintech companies into the AFG’s fintech ecosystem by removing duplicated functions and operations.And thirdly, it will leverage on the common front office function as well as cross marketing opportunities available within the AFG fintech ecosystem to achieve rapid business growth.