FinTech LIVE Singapore 2025: Insights From Revolut
The fintech industry has seen rapid growth, enhanced by digital adoption, regulatory advancements and innovative business models.
At FinTech LIVE Singapore 2025, Ashley Thomas, Head of Strategy and Operations at Revolut, explored the key factors shaping the sector and the strategies fintech companies use to expand globally.
The key causes of fintech growth
Ashley begins by outlining the major forces enhancing fintech’s rise.
One of the biggest factors is the increasing digital adoption worldwide.
“Both consumers and businesses are increasingly comfortable to rely on digital financial services. This shift in consumer behaviour is driving huge growth in the fintech sector,” Ashley notes.
For example, a survey in Singapore revealed that over 50% of customers now conduct their primary banking via mobile – something that would have been unthinkable a decade ago.
Regulatory evolution has also played a crucial role.
Governments across the world are developing new frameworks to support fintech innovation while maintaining consumer protection and financial stability.
Ashley highlights examples such as Singapore’s Major Payment Institution License and Digital Banking License, which encourage fintech growth. Other Southeast Asian markets, including Thailand, the Philippines and Malaysia, have also introduced digital banking licenses to foster financial inclusion.
Beyond regulation, fintech success is being enhanced by disruptive business models that leverage advanced technologies to reduce costs and improve financial services.
Many fintech companies are also tackling financial inclusion by providing banking access to underserved communities that traditional banks have struggled to reach.
Emerging trends in fintech
Ashley explores some of the most important trends shaping fintech today.
One of the most significant is embedded finance – where financial services are integrated into non-financial platforms.
“Think of something like e-commerce sites, where you can make payment via the e-commerce sites, for example, Lazada or Amazon. You will see, similar sort of integration with Uber or any ride-hailing app,” Ashley explains.
Another game-changing trend is open banking, which allows the secure sharing of financial data via APIs. This enables more competition and innovation in financial services.
“If you look at open banking in Europe, it's relatively mature. It's driven by the Psd2 regulations, which mandate banks to provide standardised APIs for account access payments and data sharing with third parties. What this allows is seamless multi-bank integration.” Ashley notes.
Singapore, by comparison, is still in the early stages of open banking, with voluntary participation and limited payment functionalities.
Cryptocurrency and digital payments are also transforming finance, with Ashley pointing to QR code payments and buy now, pay later (BNPL) services as major innovations.
She highlights India’s rapid shift from a cash-based to a cashless economy through QR code payment systems as a prime example of fintech’s impact.
How fintech companies expand globally
Ashley examines the different strategies fintech companies use to scale internationally, using Revolut and Wise as case studies.
Founded in 2015, Revolut started in the UK and has since expanded to over 30 countries, serving 50 million customers. By securing banking licenses in multiple regions, Revolut has built a broad financial ecosystem with products spanning from multi-currency accounts to stock trading. “Revolut strategy has been to become a one stop shop platform for all financial services needed by customers. Having multiple licenses and banking licenses have enabled Revolut to provide multiple products across these multiple ventures,” Ashley explains.
Wise, on the other hand, took a different approach. It focused on solving a specific pain point – high-cost, opaque cross-border payments. By prioritising transparency and affordability, Wise has successfully established a strong global presence.
Ashley emphasises that while fintech companies pursue different strategies, there are common themes in global expansion.
The first is regulatory strategy – deciding whether to obtain local banking licenses or partner with licensed institutions. This decision impacts financial performance, risk management and compliance policies.
Another key consideration is localisation. However, this comes with trade-offs. Some fintechs test new markets with a standardised product before committing to localisation, while others fully localise before launching.
Strategic partnerships also play a crucial role in global growth. Fintechs must collaborate with banks, payment processors and regulators to navigate local markets successfully. Finally, customer acquisition strategies often focus on digital marketing and building trust to drive adoption.
Ashley’s insights provide a clear framework for fintech companies looking to scale internationally.
As the industry continues to evolve, fintechs must balance innovation with regulation, localisation with speed and disruption with trust to succeed on a global scale.
Essential diary dates for 2025
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- FinTech LIVE Dubai | 6 May
- FinTech LIVE New York | 17 June
- FinTech LIVE London | 7-8 October
- The Global FinTech Awards | 7 October
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