Grab targets ASEAN's unbanked in 'once in a lifetime' opportunity

Nikkei Asia2021-11-26

Digital bank, 'buy now, pay later' to drive growth, says executive Reuben Lai, head of Grab Financial Group, speaks during a Nikkei webinar. He says he doesn't see traditional banks as competition. (...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

Officer
2021-11-28
Officer
I hope Grab fintech biz will continue to soar like eagles (:
- pralala:
  🙏🏽
- BShin:
  💪
NeedMoneyPls
2021-11-26
NeedMoneyPls
So much money but always report loss. Keep reducing driver incentive, increase cost to riders.

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/1171712810?lang=zh_CN&edition=full","thumbnail":"","is_english":true,"pubTime":"2021-11-26 14:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1171712810","market":"us","top_or_hot":-1,"title":"Grab targets ASEAN's unbanked in 'once in a lifetime' opportunity","media":"Nikkei Asia","content":"<div>\n<p>Digital bank, 'buy now, pay later' to drive growth, says executive\nReuben Lai, head of Grab Financial Group, speaks during a Nikkei webinar. He says he doesn't see traditional banks as competition. (...</p>\n\n<a href=\"https://asia.nikkei.com/Editor-s-Picks/Interview/Grab-targets-ASEAN-s-unbanked-in-once-in-a-lifetime-opportunity\">网页链接</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grab targets ASEAN's unbanked in 'once in a lifetime' opportunity</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrab targets ASEAN's unbanked in 'once in a lifetime' opportunity\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-26 14:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://asia.nikkei.com/Editor-s-Picks/Interview/Grab-targets-ASEAN-s-unbanked-in-once-in-a-lifetime-opportunity><strong>Nikkei Asia</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Digital bank, 'buy now, pay later' to drive growth, says executive\nReuben Lai, head of Grab Financial Group, speaks during a Nikkei webinar. He says he doesn't see traditional banks as competition. (...</p>\n\n<a href=\"https://asia.nikkei.com/Editor-s-Picks/Interview/Grab-targets-ASEAN-s-unbanked-in-once-in-a-lifetime-opportunity\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GRAB","symbol_name":"Grab Holdings","start_time":0,"source_url":"https://asia.nikkei.com/Editor-s-Picks/Interview/Grab-targets-ASEAN-s-unbanked-in-once-in-a-lifetime-opportunity","article_id":"1171712810","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1171712810","pubTimestamp":1637906980,"sourceInfo":null,"weMediaInfo":null,"summary":"Digital bank, 'buy now, pay later' to drive growth, says executive\nReuben Lai, head of Grab Financia","collect":0,"end_time":0,"defaultTopTitle":"nikkei.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GRAB":"Grab Holdings"},"translate_title":"抓住目标东盟“千载难逢”的机会","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AGC":0.9,"GRAB":0.9},"content_text":"Digital bank, 'buy now, pay later' to drive growth, says executive\nReuben Lai, head of Grab Financial Group, speaks during a Nikkei webinar. He says he doesn't see traditional banks as competition. (Nikkei montage/Retuers)\nSINGAPORE -- Singapore tech unicorn Grab is determined to redesign Southeast Asia's underserved financial markets, with the head of its finance unit saying now is a \"once in a lifetime\" opportunity to drive financial inclusion in the region.\nIn a webinar on the future of finance organized by Nikkei on Thursday, Reuben Lai, senior managing director of Grab Financial Group, said the company was \"ready to drive financial inclusion across Southeast Asia\" through its digital-based services and to create \"economic empowerment for millions of Southeast Asians.\"\nFinance is one of Grab's core businesses along with ride-hailing and food delivery, and it is expected to be a key growth driver for the company after its U.S. listing, which could happen as soon as early December. Currently it offers the GrabPay e-wallet, insurance and wealth management among other services, targeting young white-collar workers, Grab's ride-hailing drivers and small- and medium-sized enterprises -- in which Lai said the company has discovered \"a huge under-met need.\"\nFor financial inclusion, or the ability of individuals and businesses to access financial services that meet their needs, Lai said one key driver will be digital banking. Grab has already won a digital banking license in Singapore through a joint venture with Singapore Telecommunications and is preparing for the launch, expected early next year. The new banking company has already hired 200 people, Lai said.\nSoutheast Asia's traditional banks such as Singapore's DBS Group Holdings are also investing heavily in the digital space. But Lai said he does not see these banks as competition \"at all.\"\n\"We see huge investments [by traditional banks] in consumer experiences across the region. That's great for the consumers, but our focus is really on the underserved,\" he said. \"For us, it is the six out of 10 who are underserved by banks, the nine out of 10 who don't have access to credit cards -- all across Southeast Asia. That's our target segment.\"\nGrab has also applied for a digital bank license in Malaysia and is looking for digital bank opportunities in the rest of the region.\n\"We continue to look across Southeast Asia for other exciting opportunities, to reinvent banking,\" he said. \"The journey is so exciting. And yet, it's so far ahead. For me, this is such an exciting role I have, and all my teammates share the same enthusiasm -- once in a lifetime to bring financial inclusion at scale across Southeast Asia.\"\nHe said Grab has learned the ins and outs of the financial business from existing partners such as Japan's Credit Saison and Mitsubishi UFJ Financial Group, as well as Chinese insurance group ZhongAn. For example, through a partnership with Thailand's Bank of Ayudhya, an MUFG group bank, Grab looked at \"how to serve the merchants better through joint credit scoring,\" he said.\nAnother expected source of growth will be the \"buy now, pay later\" service, which enables customers to buy items, without interest payments. Grab receives commission from merchants.\nGrab launched its buy now, pay later function in late 2020, targeting people who do not have a credit card. In a separate interview, head of GrabPay and GrabRewards Chris Yeo told Nikkei that the company currently operates this service in Singapore and Malaysia and will roll it out in other markets in the region next year.\nYet Grab's financial business is still making losses. The segment's revenue for the July-September quarter was $14 million, while its EBITDA (earnings before interest, tax, depreciation and amortization) was negative $76 million, suggesting huge costs for scaling the business.\nSome of Grab's products, such as micro wealth management, allow users to make investments from just one Singapore dollar ($0.74). Asked in the webinar whether such a business model of selling small products is sustainable, Lai said his company could keep its cost base very low by using automation and technology to scale such business for its target customers.\n\"Once you open up this addressable market, we believe that the size of the revenue opportunity is very significant, in addition to the chance to do good for Southeast Asia,\" he said. \"We're working hard at it, and hopefully, over the next five to 10 years, we see banking and financial services redesign and redefine Southeast Asia.\"","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":600179625,"gmtCreate":1638107538034,"gmtModify":1638107538089,"author":{"id":"3577190140208028","authorId":"3577190140208028","authorIdStr":"3577190140208028","name":"Officer","avatar":"https://static.tigerbbs.com/ed97e5216aa01d2c4c7fa27cb2d55ebf","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3577190140208028"},"htmlText":"I hope Grab fintech biz will continue to soar like eagles (:","listText":"I hope Grab fintech biz will continue to soar like eagles (:","text":"I hope Grab fintech biz will continue to soar like eagles (:","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/600179625","repostId":1171712810,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6766420,"gmtCreate":1638162039321,"gmtModify":1638162039351,"authorId":3573383772698946,"author":{"id":3573383772698946,"authorId":3573383772698946,"name":"pralala","avatar":"https://static.tigerbbs.com/a6018cc8ea8414980b33b04dfc9fc497","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600179625,"type":1,"supId":0,"prevId":0,"content":"🙏🏽","text":"🙏🏽","html":"🙏🏽"},{"id":6763866,"gmtCreate":1638149225357,"gmtModify":1638149225444,"authorId":3563000197604215,"author":{"id":3563000197604215,"authorId":3563000197604215,"name":"BShin","avatar":"https://static.tigerbbs.com/57b140dc3ea1b3f92f25cf6ab903c480","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":600179625,"type":1,"supId":0,"prevId":0,"content":"💪","text":"💪","html":"💪"}],"langContent":"CN"},{"id":877894379,"gmtCreate":1637908967597,"gmtModify":1637908967725,"author":{"id":"3577168442576973","authorId":"3577168442576973","authorIdStr":"3577168442576973","name":"NeedMoneyPls","avatar":"https://static.tigerbbs.com/ae9445a785e57d1d8607eb2ae0dde618","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3577168442576973"},"htmlText":"So much money but always report loss. Keep&nbsp;reducing driver incentive, increase cost to riders.&nbsp;","listText":"So much money but always report loss. Keep&nbsp;reducing driver incentive, increase cost to riders.&nbsp;","text":"So much money but always report loss. Keep reducing driver incentive, increase cost to riders.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877894379","repostId":1171712810,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":46,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.26.2","shortVersion":"4.26.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1171712810"}