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Singapore-headquartered financial services firm Robocash has appointed Kirill Kalashnikov as regional director for APAC.

According to analysts from Robocash Group, the Philippine fintech market valuation has seen the entire market grow by 224 percent, from $3.4 billion in 2016 to $11 billion 2021. By 2024, the Philippine fintech industry could increase from P11 billion to P44 billion.

Robocash Group a global Singapore-based FinTech holding specialising in digital consumer lending and software development. Robocash Group strives to bridge the gap between the underbanked and the financial services inaccessible to them. Robocash Group operates in the Philippines through UnaCash app, a financial mobile app that provides seamless access to digital finance and installment e-shopping options.

Three Asian tech companies have recently appointed female CEOs to spearhead their operations, including Binance Labs, the investment unit of crypto exchange giant Binance; SCB10X, the venture capital arm of Thai conglomerate SCBX; and Singapore-based fintech company Robocash.

Robocash Group, a Singapore-based fintech firm, has appointed Natalya Ischenko as its CEO. She will be replacing the company’s founder Sergey Sedov, who will maintain his position as chairman of the board.

In the first half of 2022, Robocash Group issued $657.8 M worth of loans, 50% more than in H1 2021. The revenue for the period amounted to $214.9 M, up by 53.6%.

The lending from traditional banks is being replaced by the non-bank options with the fastest growing rates in the Philippines and Singapore. The total opposites are Malaysia and India, where the banking sector is currently experiencing more rapid growth, Robocash Group revealed.

The positive difference between income and expenses has grown by a quarter in three years. As the average Filipino household’s income had hardly increased, the savings were formed largely due to reducing costs, supported by a number of contributing factors, revealed by the analysts of Robocash Group.

Three quarters of FinTech companies in the Philippines close their doors, unable to withstand the competition. Nevertheless, the local FinTech landscape remains underinvested. By 2024 the FinTech market in the Philippines should grow to 44 Bn USD, estimated by the analysts of the financial holding Robocash Group.

According to analysts from Robocash Group, the Fintech market in Vietnam is expected to grow to $18 billion by 2024, despite high competition and barriers to entry.