Home page/ Blog / Digital banking apps gain popularity in Southeast Asia

Digital banking apps gain popularity in Southeast Asia

08.03.2024

When developing software as an Apple or Google Developer, you should always focus on global trends in information technology. In particular, you should take into account payment methods that are popular in certain regions, because mobile applications made by Apple, Android and Huawei Store Developer often involve placing orders for goods and services. Southeast Asia appears to be one of the most promising markets for promoting online business, and in recent years there has been increased interest in online banking services.

If you are aiming to create an Apple Developer Account and present your developments to users from Thailand, Vietnam, etc., you need to monitor changes in the field of virtual payments. Then there is every chance to start earning money. And so that you don’t have to spend too much time on formalities at the initial stage, Nova.Shop offers to buy ready-made accounts. You can contact us at any time to start your career as a mobile app creator!

Reasons for the growing popularity of online payment utilities in Southeast Asia

If previously holders of the App Store Developer profile focused primarily on users from the USA and Europe, now there is an increase in the audience from Asia. Over the past 5 years, the number of owners of Apple-branded equipment has increased there and, at the same time, the demand for Internet banking services has increased.

The main trigger for digital transformation in financial services was, without a doubt, the coronavirus pandemic that began in 2019. Due to restrictions imposed by COVID-19 and fears of contracting a dangerous disease, many people have switched to online payments. Additional incentives were:

launch of applications by banks in Southeast Asia – by creating an Apple Developer Account and signing up for a subscription, many large financial organizations presented clients with their own digital products for account management and remote payments;
support from local governments at the legislative level – resolving issues related to conducting transactions via the Internet has made payments through applications safe in the eyes of citizens of Southeast Asian countries;
investments from developed countries – realizing the size of the market, European, American and international corporations decide to create an Apple Developer or Google Account in order to present their goods and services to millions of residents of Southeast Asia;
expanding opportunities for income generation and strengthening the motivation of banks and credit institutions to invest money, time and effort in the development and improvement of digital products;
improving usability and expanding the functionality of mobile utilities – currently, software developers for Apple devices are creating a Developer certificate for presenting applications that provide access not only to basic, but also to specialized banking services. If previously there was template software in official stores, now every bank strives to offer something special in order to stand out from its competitors.

Statistics showing digitalization in the world and in Southeast Asian countries

The results of introducing innovative technologies in the banking sector can be objectively assessed using statistical indicators, according to which:

Globally, there is a 5% increase in the number of downloads and installations of financial and technical applications in the period from 2022 to 2023. In parallel, over the past 2 years the number of sessions in online banking applications has increased by 14%;
in Southeast Asia, fintech programs for smartphones were downloaded by 32% more people in 2023 than in 2022.

Almost every bank (including regional ones) in Southeast Asia strives to keep up with the times, so it initiates the development of its own utility. Some involve specialists who have an Apple Account Developer for this, others are engaged in creating and testing the project themselves.

The clear leaders in the integration of advanced technologies are Thailand and Vietnam, where they are rapidly connecting new Internet users and have the highest figures for the number of installations compared to previous years – 95% and +47%, respectively. If we talk about sessions, then the numbers are even more impressive – 141% and 128%.

Only those programmers and companies that have an iOS Developer Account and can log into their personal account using a valid login and password can develop utilities for banking organizations. The problem is that the registration process takes a lot of time and can fail if you make the slightest mistake. Without additional inconvenience, our store with ready-made accounts will help you get an Apple ID Developer and start working on a project for customers from Southeast Asia.