The Hanoitimes - Vietnam has witnessed dynamic growth of the fintech sector, with the increasing participation of the older generations. Studying the demand for online financing services in Asia in 2019, analysts of Robocash Group have revealed a steady increase in the number of customers aged 41-50 and 51-60 years and in particular, Vietnam had the highest monthly increase, 26%, of such clients. Amid the overall digitization and growing penetration of online services in Asia, the daily use of financial technologies by older generations is growing too. Following the growing digitization, the popularity of fintech services will only keep increasing. However, older generations are still rare users. The number of 41-50-year-old clients in Vietnam by December 2019 reached 4.63% (2.71% in January 2019), and 9.33% in India (4.44% in January 2019). With age, fintech customers in Vietnam request higher amounts of financing Source: Robocash The analysis revealed a pattern according to which clients ask for more financing as they get older. Vietnam has shown the lowest contrast between generations. On average, 51-to-60-year-olds in Vietnam request by 11.7% more than clients aged between 18 and 24. It stands in contrast with Indonesia with a difference three times higher larger at 37.5%. The differences in India and the Philippines are 18.5% and 15.8%, respectively. Half of the users of fintech financing tools in Vietnam are married and have kids …
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