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Secai Marche adds US$1.6M to Series A round to double down on Southeast Asia

Secai Marche

Secai Marche co-founders Ami Sugiyama (L) and Shusaku Hayakawa

Secai Marche, a farm-to-table startup connecting farmers with restaurants and retailers in Southeast Asia, has secured an additional JPY 250 million (US$1.6 million) in its Series A funding round.

The round includes equity financing from Mitsui Sumitomo Insurance Venture Capital (MSIVC) and debt financing from The Shizuoka Bank and The Hokkoku Bank.

This follows a US$3.5 million Series A round of investment from investors, including Beyond Next Ventures, Spiral Ventures Asia, Mitsubishi UFJ Capital, Future Food Fund, Tsuneishi Shoji, Fukuoka Sonoriku, and Foodison co-CEO Toru Yamamoto, in August this year.

Also Read: ‘Amazon for fresh farm produce in SEA’ Secai Marche raises US$3.5M to add AI feature, optimise last-mile deliveries

Secai Marche will use the newly raised funds to capitalise on the rapid growth of the e-commerce and food and beverage (F&B) industries in Southeast Asia. It plans to expand its fulfilment centres, use AI to enhance the accuracy of demand forecasts, automate and optimise last-mile deliveries, and carry out system development and marketing activities.

Established in 2019 by Ami Sugiyama and Shusaku Hayakawa, Secai Marche offers a platform for F&B businesses and retailers to purchase high-quality products directly from farmers and fishermen at competitive prices.

The firm enables vegetable producers to access demand forecast information and sell their products in small quantities. On the other hand, consumers can purchase high-quality, reasonably priced products from various producers in one place.

Secai Marche offers over 4,000 carefully selected ingredients from producers worldwide, including Japan and Malaysia. It focuses on fresh foods such as eggs, vegetables, fruits, and seafood.

The startup claims to have achieved 200 per cent year-on-year growth since its launch, which it attributes to its direct distribution network.

Yuko Shinohara, Manager of MSIVC, said: “With its optimised supply chain and fulfilment functions, Secai Marhce has realised freshness, low prices and convenience of buying fresh foods at the same time and rapidly increased its customers in Kuala Lumpur. We are confident that the business will grow further as a platform for exporting food products from Japan, as well as expected to have a social impact in reducing food loss and improving the income of local farmers in Southeast Asia.”

Also Read: How Secai Marche champions farm-fresh food in Southeast Asia

Early last year, the startup raised US$1.6 million from The Agribusiness Investment & Consultation, Spiral Ventures Asia Fund I, and Beyond Next Ventures.

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Ecosystem Roundup: Indonesia set for US$88B tokenisation boom by 2030 | India levies US$25M fine on Facebook | Portcast secures US$6.5M

NEWS & VIEWS

Dear reader,

A groundbreaking report titled “Project Wira”, jointly released by BRI Ventures, Saison Capital, D3 Labs, and Tiger Research, predicts a remarkable surge in Indonesia’s tokenised asset market. The study forecasts that demand in this emerging sector could skyrocket to US$88 billion by 2030.

The projection has garnered support from Indonesia’s Financial Services Authority (OJK), which views the nation’s vast commodities market as a fertile ground for tokenization.

Currently, the gold sector dominates the archipelago’s tokenised commodities landscape.

However, the report emphasises that the country’s abundant natural resources hold untapped potential for tokenization. This innovative approach could transform capital-raising mechanisms while boosting Indonesia’s global competitiveness.

As tokenisation gains traction worldwide, Indonesia stands out as a key player ready to unlock the economic benefits of this technological shift.

Sainul,
Editor.

—-
Indonesia set for US$88B tokenisation boom by 2030: report
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TikTok parent ByteDance reportedly values itself at US$300B
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Oyo founder seeks new investment at US$3.8B valuation
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India orders Meta to curb WhatsApp data sharing, levies US$25M fine
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MakeMyTrip buys Happay from CRED
Happay is an expense management platform; The deal will see Happay’s expense management business and team transition to MakeMyTrip, while the payments division will remain at CRED, which had acquired Happay in a US$180M deal in late 2021.

Portcast secures US$6.5M in Series A to enhance AI-powered supply chain visibility
The investors are Susquehanna Asia, Hearst Ventures, Signal Ventures, Wavemaker Partners, TMV, and Innoport; By leveraging machine learning and advanced LLM, Portcast offers actionable insights through an easy-to-integrate API and portal.

Secai Marche adds US$1.6M to Series A round to double down on Southeast Asia
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Sahabat-AI initiative aims to leapfrog Indonesia’s digital sovereignty
Projects such as Sahabat-AI intend to highlight the country’s commitment to harnessing technology for socio-economic progress.

Crypto exchange OKX integrates SGD in partnership with DBS
The service, unveiled Monday, connects the exchange with the local financial system using payment services facilitated by DBS Group.

FEATURES & INTERVIEWS

SEA’s role in the global semiconductor supply chain is poised to strengthen: GlobalFoundries’s Siah Soh Yun
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Startup ecosystem in Indonesia defies innovation potential expectation in new global report
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Echelon Philippines 2024: Expanding Web3 applications for real-world challenges
The Echelon Philippines session explored Web3’s potential beyond gaming, focusing on blockchain and tokenisation to address real-world challenges.

Beyond the walled garden: How OwlySearch empowers business decision-making with AI
OwlySearch recently earned recognition as one of the top 10 startups in the L’Oréal Big Bang Beauty Tech Innovation Program.

FROM THE ARCHIVES

How a 10-day silent retreat made me a better investor
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Charting your equity course: Navigating funding rounds for startup success
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Startups impacted by the rise of embedded finance in Southeast Asia
In the past decade, Southeast Asia’s digital economy was marketplace-driven; the next decade may revolve around digital finance.

Corporate venture funding models: Determining the sweet spot between risk and control
We have found four archetypes of corporate venture funding models that serve as a starting point to achieve those objectives.

From classroom to boardroom: How Singapore’s universities nurture future investment leaders
Singapore’s universities actively foster entrepreneurship and innovation skills among students, enabling them to thrive in dynamic business landscapes.

Interpreneurs: The key to successful global growth
Interpreneurs are an evolution of agile innovators who operate within a distributed workplace that is becoming increasingly global.

Cultivating an honest culture: Why leaders should be transparent
Transparent leadership is the key to creating a culture of trust; here’s how we’re seeing future-forward leaders put money where their mouth is.

How to scale talent in Southeast Asia during unprecedented times
Even with the challenges in the market, the predicted ICT market growth rate of 1.4x – 1.8x will increase the demand for digital talent.

Employee burnout is real and why it needs to be taken seriously
As we navigate the new normal, we are constantly faced with burnout and mental health roadblocks, but how do we navigate them?

Avoiding costly mistakes: How cognitive biases can affect entrepreneurs
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Why it’s time to hit ‘refresh’ when it comes to addressing the gender diversity gap in the IT sector
To help address gender balance, a concerted effort needs to be made to make tech professions more enticing to young women and girls.

Managing talent in an economic downturn
HR leaders need to balance the competing realities of the Great Resignation and an economic slowdown, which could necessitate furloughs and cost-saving measures, that would impact employees.

The future of job market: Dramatic changes and cultural shifts
Knowledge is power, and everyone has the chance to be knowledgeable; this is the number one power of the job market today.

How home-based care is changing the face of the health sector
Speedoc is a virtual clinic and healthcare solutions platform that allows users to seek medical care and services from home.

Where is Southeast Asia’s digital healthcare headed?
Unlike the global macro markets which are correcting amidst rising investor uncertainty, healthcare in Southeast Asia is showing strong growth.

How is AI transforming the future of cancer diagnosis
The synergy of human and AI-based insights in cancer pathology can open avenues for early cancer detection for better patient-specific assessment and treatment.

How I nurtured and scaled a mental health ecosystem during the pandemic
We are exploring how we can provide a Safe Space in both the physical and virtual world, such as the metaverse, with a seamless experience.

Shaping the future of healthcare with smart hospitals
The pandemic has accelerated the evolution of healthcare ecosystems, smarter and more connected hospitals are the future of healthcare.

How telemedicine can revolutionise the veterinary world?
Telemedicine has been commonly practised in healthcare for humans, but adopting such technology for pets is still relatively new.

How I nurtured and scaled a mental health ecosystem during the pandemic
We are exploring how we can provide a Safe Space in both the physical and virtual world, such as the metaverse, with a seamless experience.

THOUGHT LEADERSHIP

One-size-fits-none: Redefining corporate communication with personalisation
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Building resilience: How disaster tech startups are making a difference
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TRIREC Founder Melvyn Yeo: Bifurcation of investments will continue to happen in 2025

Melvyn Yeo, Founder and Managing Partner at TRIREC

Since its inception in 2015, TRIREC has been at the forefront of venture capital investment with a commitment to decarbonisation. Focused on tackling climate change, the Singapore-based firm allocates 80 per cent of its investments to early-stage companies, spanning pre-Series A to Series A.

With a diverse global portfolio across energy, mobility, food and agriculture, buildings, and hard-to-abate industries, TRIREC aims to reduce or eliminate greenhouse gas emissions. As the firm approaches its 10th anniversary, it celebrates a milestone—the first close of its third fund—and gears up to honour its decade-long journey while charting its future trajectory for the next ten years.

Expanding its impact, TRIREC has also achieved the first close of a new fund targeting energy access for underserved rural communities in Africa, India, and Southeast Asia (SEA).

“We are quite unique in that we do not necessarily follow market trends. From an investment perspective, we focus on the problems and the solutions. And these solutions could be anywhere in the world,” says Melvyn Yeo, Founder and Managing Partner at TRIREC, in an interview with e27.

Before founding TRIREC, Yeo spent over a decade at Goldman Sachs (Asia) managing global multi-asset portfolios and co-founded Thirdrock Group, a leading multi-family office acquired by Schroders in 2019. At Schroders, he held senior roles, including Deputy Head of Wealth Management (Asia) and Co-Chair of the Private Assets Investment Committee.

Also Read: As the demand for energy soars, climate tech is here to save the day

Yeo serves on the board of the Singapore Land Authority and is a member of the Climate Reality Leadership Corps, founded by Al Gore. The Corps advocates for climate action globally.

In this interview, he discusses upcoming trends in 2025 and the different factors that will lead to it. The following is an excerpt of our conversation with him.

What are the main challenges that the ecosystem will face in 2025 in terms of fundraising?

Fundraising challenges will still be pretty similar [to 2024] in that it will be all about distributions [of funds]. Many investors have invested in funds; because of where the capital markets have been from 2022 until now, there have not been that many exits.

Without exits, whether through IPO or trade sale, many funds have been unable to distribute back capital to their LPs. As a result, many LPs are not looking to deploy to new funds, at least not in a bigger amount.

We need to see some of the cash flows coming back before further deployments.

Now, if we want to discuss fundraising for startups, that part of the equation is slightly better because many funds still have their dry powder, especially those that raised capital in 2022. Plenty of them have not deployed the full amount yet.

Over the last couple of years, many VCs have been very conservative in investing in new deals. They want to see more traction and more revenues before they can deploy. The last couple of years have been all about trying to adjust to that new norm, and I think that startups are now recognising that they need to build a more fundamentally sound business to attract the right investors.

Also Read: Founders Factory launches in Singapore to bolster SEA deep tech, climate tech ecosystem

If we consider factors such as the geopolitical situation today, will 2025 be an even more challenging year?

It depends on the investment mandate and the geographical coverage of the funds.

The latest US election results … I think it will have a positive impact on SEA, in general, from an economic perspective. Because I am sure that the new president would have certain views on how to drive the domestic economy and make the country much stronger. But I think a lot of that will be directed at China, which will allow SEA to pick up the slack.

The other part of the equation is that, from a geopolitical perspective, there will be a much bigger bifurcation of investments. From a technology perspective, we have really started to see over the last few years that certain deep tech research and development is bifurcating into two directions, right? You have the Chinese semiconductor industry trying to build up its capabilities there, and it is adopting different standards compared to the Western world.

It is a consequence of the geopolitical volatility that we are experiencing today. From an investment perspective, we have to be mindful of [the fact] that certain sectors will be more affected.

Are there any particular verticals that will be more popular than the rest?

The last 12 months have been all about AI. I think AI as a theme will continue, but investors will be a lot more discerning when it comes to AI investments.

After the initial hike, investors will be more diligent in identifying what we mean by LLM, machine learning … before they start drilling down to the actual applications [of the technology].

We know some people just slapped the term AI and hope for a higher valuation, so investors will be more discerning. Is there really a business model here, a revenue model?

I also think that climate and decarbonisation will continue to attract interest and grow in this part of the world.

Also Read: Climate conferences won’t save us: How to start taking action all year round (Part 1)

What happened in Trump’s last term was that the private sector actually picked up the slack and drove the impetus in terms of driving the adoption of a green economy, as opposed to the federal side. I think that is not going to stop, you know? If you look at the likes of Amazon, Meta, and Google, they are very committed to this whole green affair.

When I was in Jakarta this year, many corporations were talking about how to build renewable energy projects, solar panel systems, and carbon credits. Even just in the last six months, going around Jakarta and Surabaya feels very different.

EVs and EV charging as a theme are quite mature already, so most of the investments [in the sector] are going through a consolidation phase. The focus is now moving towards the power-generating side of things and carbon capture, not just in Indonesia but also in Malaysia and Thailand.

The other theme that is receiving a lot of attention is the fintech side of things, with the growth and maturity of digital banks. This would actually add more flavour to the offering in the region as well.

Gone are the days when [its function] was restricted to helping you open an account faster. We are going to see a lot more products and applications that can be done on digital platforms.

How about the stages of investment? Are we going to see the return of early-stage funding?

Early-stage funding has dropped off quite a bit, but I think it will start to pick up again, partly because those who raised funds in 2021-22 will need to deploy them.

There will also be some later-stage investments. So, I think 2025 will see a pickup in investment across the board compared to 2023 and 2024.

Image Credit: TRIREC

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Bridging the digital divide: Addressing Malaysia’s skills gap

Malaysia currently faces a significant digital skills gap limiting its technological and economic progress. A digital skill gap is present when there is a need for more technologically skilled employees who can utilise the latest technological advancement. This is highlighted by the alarming statistic that eight out of ten emerging jobs demand technological competencies.

Despite its potential as a regional leader in digital innovation, Malaysia has dropped to 79th in global rankings for digital skills. Compared to their neighbour Singapore which is ranked 12th in the global rankings, this explains the disparity between Singapore and Malaysia’s strength in economy and technological prowess. Singapore with its highly educated and skilled workforce are able to effectively utilise newer technology to achieve optimal outcomes with their businesses and infrastructure.

Therefore, this shortfall has caused Malaysia to lag compared to other countries, underscoring the urgent need for targeted educational initiatives and corporate training programs to equip the workforce with essential tech skills. Bridging this gap is crucial for enhancing employability and ensuring that Malaysia can compete effectively in an increasingly digital economy. Addressing these challenges will foster sustainable growth and economic resilience.

The question is: Why is there a digital skill gap in Malaysia?

Mismanagement of resources and insufficient training

In Malaysia, there is a shortage of higher education in terms of technological skill development. This is evident in the study done by PwC, where 78 per cent of Malaysians have a lack of access to technology to up-skill their technology prowess. There is also the battle of quality vs quantity, where Malaysian training centres have led to a focus on quantity rather than the quality of education. This can be seen in educational institutions across the country.

The prioritisation of quantity causes incomprehensive results as they lack the practical handiwork as compared to quality tutorage. Additionally, there is a lack of standardised assessment, often leading to employers questioning the credibility of certifications from less recognised institutions.

In a survey conducted by Talentbank, their study concluded that 91.91 per cent of employers would choose a good attitude over their academic certificates. This is also supported by the Ministry of Education (MOE)’s finding that 20 per cent of fresh graduates are unable to find a job within six months of graduation due to them lacking the skills, knowledge and attitudes that employers look for.

While there are still shortcomings due to issues in training, this could have been indirectly attributed to the fact that there is a mismanagement of resources towards proper up-skilling.

Also Read: Launching a VC fund in Malaysia: A venture lawyer’s guide

Funding for digital skills training is often concentrated in urban areas where institutions are better equipped and more likely to attract investment. In contrast, rural regions may lack even basic infrastructure for digital education, creating a significant talent pool that remains untapped. This geographical disparity leads to uneven skill development and exacerbates existing inequalities in the job market.

Furthermore, many training initiatives face bureaucratic hurdles that hinder their effectiveness. For instance, lengthy approval processes for new programs can delay the launch of essential training opportunities, leaving potential learners waiting for access to necessary skills.

The concerning speed of technological advancement

The speed of technological advancement is one of the pivotal factors of why a digital skill gap exists in Malaysia. Unlike in the past when technology growth was significantly slower, we now experience incredibly rapid technological change. For recent generations, it was typical for technologies that seemed impossible in their youth to become commonplace later on.

Technology advancements are not exclusive towards specific industries but rather are spanning out, transforming various other sectors and industries that require a more tech-savvy workforce. Industries like manufacturing and finance have shifted towards digital technology, requiring AI, Internet of Things (IoT) and also blockchain technology.

The extremities of technological advancement, have caused several implications on society that cause them the inability to keep up with the growth. One of these implications is the necessity of evolution within current job roles. As industries adopt advanced technologies like artificial intelligence, machine learning, and automation, job roles evolve significantly.

For instance, positions in data analysis and software development have surged, while traditional roles in manual labour or basic administrative tasks may diminish. Workers are often left scrambling to acquire new skills that didn’t exist a few years ago, leading to a skills mismatch.

The rise of niche roles, such as cybersecurity specialists or cloud computing experts, underscores the need for specialised training. Many workers find themselves unprepared for these roles due to the lack of relevant training programs that focus on these emerging fields.

Malaysia, as a country, is considered multi-ethnic, with different cultures intertwined forming the Malaysian culture. However, as an Asian country, our mindset is very different as opposed to the open-minded West. Our unwillingness and reluctance to attempt new things pose a barrier to technology adoption. This is evident, especially in countries that put a great deal of emphasis on investing in technology and up-skilling to be efficient with the latest technologies.

In comparison to the competitors in the global landscape, Malaysia is still far behind in true technology adoption and the proper incorporation of its tools into the workforce. technology adoption. This is evident, especially in countries that put a great deal of emphasis on investing in technology and upskilling to be efficient with the latest technologies. In comparison to the competitors in the global landscape, Malaysia is still far behind in true technology adoption and the proper incorporation of its tools into the workforce.

Also Read: How these Malaysia Digital status cybersecurity companies are protecting your data

Adapting to rapid technological advancements often requires a significant shift in mindset. Individuals accustomed to traditional ways of working may resist adopting new technologies, fearing that they may not understand or be able to use them effectively. This reluctance can hinder the integration of new tools and practices in workplaces.

Addressing the concerns and issues

In the end, these factors all contribute to the major issue at hand. The lack of workforce readiness to adapt to technological advancements. Fret not, there are multiple solutions that businesses and government bodies can take to improve the current situation.

Firstly, government bodies should look to collaborate with industry leaders to design curricula that can reflect current and potential job market needs, ensuring that the training programs stay relevant and up-to-date. Adding on, these curricula should also include courses on emerging technologies including blockchain and data analytics in educational institutions to provide students with the skills needed for in-demand jobs.

Resources should also be targeted accurately. Direct funding toward regions and institutions that have been historically underserved in digital skills training, ensuring equitable access to resources. With these resources in place, a formulation of an advisory board between industry leaders would be able to guide training programs necessary to ensure that future employees can meet workforce needs.

However, there are several ways to address the rapidly changing skill requirements, as well as the generational gap. Businesses can collaborate with the government to develop and promote certification programs in high-demand fields such as data science, cybersecurity, and digital marketing to provide workers with recognised credentials.

One of the targets that the business should incorporate in their practices is to up-skill their employees by organising intensive boot camp-style training sessions focused on specific skills or technologies, allowing workers to quickly acquire relevant competencies.

To change, the business must first change its inner workplace culture. By fostering a workplace culture that embraces experimentation and learning from failures. This helps encourage employees to view challenges as opportunities for growth. Naturally, this opens up potential peer-to-peer learning sessions where younger, tech-savvy employees can share knowledge and skills with older colleagues, bridging the generational divide.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join us on InstagramFacebookX, and LinkedIn to stay connected.

Image credit: Canva Pro

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Decoding B2B buyer intent: The 3 questions every tech startup marketer needs to address

In my journey as a B2B branding expert, I’ve observed that marketers, especially those in startups, can often get swept up in a whirlwind of tactics and lose sight of the deeper motivations driving buyer decisions. As tech and innovation drive the Asian startup ecosystem, understanding buyer intent has transformed significantly—encompassing a range of digital signals, from online search behaviour to content engagement across multiple platforms.

For startups and tech companies in 2024, interpreting these signals accurately and responding with agility can unlock growth opportunities and improve resource efficiency. Yet, many marketers focus solely on the first question—why buyers seek a solution—missing out on insights that can strengthen messaging and positioning.

By exploring what buyers need specifically and how they navigate their purchasing decisions, startups can shape more targeted and impactful approaches to engage their audience. Recognising buyer signals—subtle cues that reveal a potential buyer’s readiness to engage—can further refine these strategies.

Let’s explore why answering all three questions is critical and how incorporating buyer signals can help you connect meaningfully with B2B buyers across Asia’s dynamic digital landscape.

The pitfalls of stopping at “why”

Understanding why a buyer seeks a solution is foundational, but stopping here risks producing generic messaging. While recognising pain points or aspirations is critical, relying solely on these insights can lead to phrases like “Boost your revenue!” or “10x your growth!”—attention-grabbing but lacking the depth required for genuine connection.

My experience has shown that going beyond why to explore what and how creates insights that enhance messaging and refine positioning, leading to more meaningful interactions with potential buyers.

  • Unpacking the initial motivation: Going beyond “why”

Grasping the motivation behind a purchase is an essential first step that initiates the buying process. Buyers typically seek solutions for urgent challenges or aspire to achieve future benefits, such as increased efficiency. This insight allows us to connect with their needs.

However, focusing solely on motivation can be likened to navigating a city with only a street map; without a comprehensive understanding of the broader landscape, we may easily get lost. To truly comprehend a buyer’s journey, we must also clarify what they are specifically looking for and the strategies they employ to make their purchases.

  • Getting specific with “what they buy”

Once we understand a buyer’s motivation, it’s time to examine what they specifically need. Precision is key here; understanding the exact capabilities, features, or benefits that buyers prioritise allows us to align our offerings with their criteria.

For example, consider a B2B buyer from a manufacturing firm focused on minimising downtime. If we miss their specific requirement—like proactive maintenance capabilities—we risk losing their engagement. Rather than presenting our solution as merely “efficiency-enhancing software,” we should highlight how our product directly addresses their unique challenges.

Also Read: From automation to hyper-personalisation: Leveraging AI for smarter marketing

By exploring what buyers truly seek, we can match our product features and benefits to their immediate priorities, positioning ourselves as the ideal solution.

  • The most overlooked step: “How they buy”

The how of buying is often the most overlooked yet critical part of the buyer’s journey. Today’s purchasing process can be complex, involving multiple stakeholders and specific approval channels. Each decision-making stage influences the final choice, and missing this landscape risks missed opportunities.

Analysing the buyer’s journey helps us identify key moments to support decision-making. This may involve providing targeted case studies during the evaluation phase or offering personalised demos that resonate with buyers’ needs. Understanding how buyers navigate their decisions allows us to craft messages that connect on a deeper level.

Recognising buyer signals: Timing your approach

In addition to understanding why, what, and how, we must also pay attention to buyer signals—behavioural, emotional, or contextual cues that reveal a prospect’s readiness to engage. Are they downloading resources? Attending webinars? Interacting with your content on social media? Recognising these cues enables well-timed outreach.

Incorporating buyer signals into our strategy allows for a proactive approach. For instance, if we notice a lead engaging with content around a specific feature, we can tailor our communications to address their current needs. This kind of targeted engagement not only enhances the buyer’s experience but also builds trust, positioning us as a resource rather than just another vendor.

Knowing your Ideal Customer Profile (ICP) is crucial

This three-question framework works best with a well-defined Ideal Customer Profile (ICP). Attempting to answer why, what, and how for a broad audience results in vague insights and ineffective strategies.

Also Read: Tried-and-tested marketing strategies for startups across all stages in Singapore

By focusing on a specific ICP, we can fine-tune our messaging and create campaigns that resonate with an audience most likely to convert. Instead of broad statements like “10x your revenue with our product,” we can present targeted messages such as, “Reduce your manufacturing downtime by 20 per cent with our predictive maintenance solution.” This precision draws in buyers who value relevance and impact.

Conclusion

To fully understand and serve our buyers, we must go beyond simply identifying their motivations. It is essential to explore what they truly need, how they navigate their purchasing journey, and the signals indicating their readiness to engage.

Whether you’re a marketer, sales professional, or business leader, take proactive steps to refine your Ideal Customer Profile (ICP) and implement strategies that capture buyer signals. Tailor your messaging to resonate with your audience, and build genuine relationships by engaging prospects through personalised communications and relevant content.

By prioritising this comprehensive approach, you’ll stand out in a competitive market, cultivating lasting loyalty and trust—key drivers of sustainable growth.

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join us on InstagramFacebookX, and LinkedIn to stay connected.

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Portcast secures US$6.5M in Series A to enhance AI-powered supply chain visibility

Portcast founder and CEO Nidhi Gupta

Singapore-based Portcast, a provider of real-time transportation visibility and predictive analytics, has secured US$6.5 million in Series A funding.

The round was led by Susquehanna Asia VC, with participation from new investors Hearst Ventures and Signal Ventures, alongside existing investors Wavemaker Partners, TMV, and Innoport.

The new funding will be strategically allocated to accelerate product innovation, particularly leveraging generative AI to enhance risk management, transport planning, and invoice auditing capabilities.

A portion of the money will be used to deepen penetration in key markets across the Asia Pacific and Europe and foster collaborations with technology partners.

Also Read: Portcast raises US$3.2M to provide predictive AI solutions to freight forwarders, manufacturers

Headquartered in Singapore, Portcast aims to enhance global trade resilience through actionable data. By leveraging machine learning and advanced large language models (LLMs), Portcast offers actionable insights through an easy-to-integrate API and portal.

The platform aggregates data from various sources, including carriers, terminals, geolocation and risk data, and proprietary documents.

The company serves a diverse clientele, including shippers, logistics service providers, and TMS systems, providing a unified and reliable visibility solution. Its client roster includes industry leaders such as AIT Worldwide Logistics, Otentic Customs, FreshCo, and Wilo Group.

Nidhi Gupta, founder and CEO of Portcast, said: “Supply chain disruptions have become the norm, driving up costs for shippers and logistics service providers globally. It is no longer enough to monitor shipments; the priority now is to drive actions from visibility data through automated recommendations. That’s why we’re committed to building a product that uncovers risks in transport but more importantly, automatically suggests actions to reduce freight costs and/or improve customer experience.”

“Looking ahead, we’re eager to expand in Asia Pacific and Europe, strengthening partnerships to bring our solutions to even more companies,” she added.

Richard Hsu from Susquehanna Asia VC, commented: “Portcast has tapped into both public and proprietary data that brings accurate and explainable transportation visibility. But what sets them apart is their ability to turn that data into practical, actionable insights for their customers, setting a new benchmark in logistics decision-making.”

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SEA’s role in the global semiconductor supply chain is poised to strengthen: GlobalFoundries’s Siah Soh Yun

Dr Siah Soh Yun, VP of Technology Development at GlobalFoundries

GlobalFoundries (GF) is a leading global semiconductor manufacturer, focusing on feature-rich solutions. It supports advancements in autonomous and electrified vehicles (ACE), AI at the Edge, and connected devices, leveraging its strengths in radio frequency (RF) performance, embedded memory, and low-power solutions.

GF emphasises enhanced features and capabilities over traditional transistor scaling. This approach addresses the growing demand for energy-efficient, secure, and high-performing chips across high-growth sectors such as AI, automotive, and communications infrastructure.

e27 spoke with Dr Siah Soh Yun, Vice President (Technology Development), who shared her nearly thirty-year journey with GlobalFoundries, the pivotal changes she has witnessed in the semiconductor landscape, and her efforts in building an inclusive workplace.

Excerpts:

Dr Siah, with over 25 years in the semiconductor field, could you share some highlights of your journey with GlobalFoundries and the evolution you’ve witnessed in the industry? How has your experience at GlobalFoundries Singapore shaped your approach to technology development and leadership?

I have been with GlobalFoundries (GF) for nearly 28 years, and one of my proudest achievements has been advocating for diversity at GlobalFoundries.

Early in my career, I was often the only woman in the room, but I was fortunate to have mentors who believed in me. As a leader, I am focused on mentoring and institutionalising support for women engineers through our employee resource groups. This ensures we build a culture of inclusion from the top, which is critical for unlocking the potential of our diverse workforce and spurring the high level of innovation we need for our industry’s growth.

What are the critical priorities for GlobalFoundries’s technology roadmap in the next few years, particularly in Singapore? Which areas do you see it making the most significant technological differences in the foundry landscape?

At GlobalFoundries, we manufacture essential chips that account for 80 per cent of global semiconductor demand (measured by the total area of non-memory silicon processed at nodes 12nm and above). Our focus remains on innovation that allows us to add features and capabilities to our chips to meet our customers’ unique, dynamic needs at the best economics, or what we call feature-rich chips.

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With our global manufacturing sites spanning three continents, all dual-qualified with overlapping technology platforms, GlobalFoundries is uniquely positioned to meet our customers’ needs for these chips, setting us apart from the few other pure-play semiconductor foundries.

Can you walk us through the “More-than-Moore” speciality technologies and their role in GlobalFoundries’s overall strategy?

The “new era of more” drives GlobalFoundries’s growth, creating an explosion of data that demands increased computational power, better connectivity, and enhanced energy efficiency. Semiconductor innovation now focuses on adding features and capabilities to chips, delivering energy-efficient, secure, and feature-rich solutions that meet customer needs with optimised manufacturing and economics.

GlobalFoundries is a leader in manufacturing semiconductors for the evolving automotive industry, particularly as the shift from internal combustion engines (ICE) to autonomous, connected, and electrified (ACE) vehicles takes centre stage. GlobalFoundries’s technology supports increased safety, enhanced user experiences, and sustainability through vehicle electrification.

To succeed in AI at the Edge, GlobalFoundries leverages its strengths in RF performance, digital capabilities, low power consumption, and embedded memory. GlobalFoundries is advancing its technology roadmaps, including FDX (22FDX and next-gen 12FDX) and integrating embedded memory technologies (such as RRAM, MRAM, and ESF3) to enhance RF capability. These efforts position GF to meet the growing demands of AI at the Edge.

GlobalFoundries serves several high-growth sectors, such as AI, automotive, and communications infrastructure. Which sector is seeing the fastest technological advancements?

We are seeing strong momentum in the automotive industry, driven by the increasing electrification of vehicles. Smarter, more connected electric cars now use over 3,000 semiconductor chips, compared to just 50-150 in a typical car today.

This is because an EV is part of a broader network that is connected to the cloud with multiple highways of data being processed and transferred to and from in real-time, and at high speed. As consumer expectations for enhanced capabilities grow, such as advanced driver-assistance systems that enable adaptive cruise control, emergency braking, and collision warnings, the chips powering these systems must evolve accordingly. Continuous innovation in semiconductor technology becomes essential.

At this year’s GlobalFoundries’s Technology Summit, “AI Everywhere” was a key theme. Could you elaborate on GF’s role in supporting AI-driven innovations?

We believe that AI is the catalyst for GF’s next growth phase. The convergence of megatrends like digitisation, connectivity, and cloud computing has paved the way for the AI era. However, AI is not limited to the cloud or graphics processing units (GPUs); it’s about bringing intelligence to the Edge – enabling smarter, more capable devices.

Consumers will increasingly demand AI-powered features in their smart devices and IoT products, essentially putting AI at their fingertips or at the Edge. This shift will drive a massive hardware replacement cycle, with new devices requiring far more processing power than their predecessors. All of this will demand the essential chips that we produce at GlobalFoundries.

You guided GlobalFoundries Singapore through the pandemic’s global chip shortage and subsequent oversupply issues. What were the main takeaways from these experiences?

Our key takeaway from navigating the global chip shortage and subsequent oversupply was the importance of strong relationships and collaboration with our customers and suppliers.

At GlobalFoundries Singapore, we made the bold decision to expand our site when many others were still adopting a cautious watch-and-wait approach. This was possible thanks to our unique economic model—a three-way partnership between GlobalFoundries, the Singapore Economic Development Board, and customers to protect economic and national security and competitiveness.

Also Read: Silicon Box’s Business Head on how chiplet architecture transforms semiconductor scalability

Such an approach also underscored the value of taking a relationship-first approach, working closely with our trusted customers and partners to secure long-term agreements that helped stabilise demand and guaranteed supply to customers worldwide.

How does GlobalFoundries balance maintaining a stable supply chain with the often unpredictable fluctuations in demand within the semiconductor industry?

The semiconductor industry will continue to face complex macroeconomic and geopolitical challenges. At GlobalFoundries, we recognise these risks and have made strategic investments over the years to build a robust, global manufacturing footprint across three key regions–Germany, Singapore, and the US. Our products are dual-qualified, meaning we can manufacture the same product in multiple locations, ensuring flexibility and continuity.

Additionally, we source materials from various suppliers as part of our comprehensive business continuity plan. This enables us to shift production across facilities as needed, offering our customers the geographical diversification and supply chain security they rely on.

How is GlobalFoundries addressing the challenge of creating semiconductors that balance high performance with energy efficiency, especially as sustainability becomes increasingly crucial?

GlobalFoundries’s mission is to innovate and partner with our customers to deliver process technology solutions for all humanity. The semiconductors we deliver to our customers are a core technology enabling energy efficiency across multiple end markets and the associated reductions in greenhouse gases.

Power efficiency is critical in this new era of semiconductors, especially for battery-powered devices. GF’s technology solutions prioritise power optimisation, ensuring sustainability while maintaining performance. High-speed connectivity, high-performance RF, and low-latency data transmission are vital to meet the needs of data centres, IoT, and smart devices.

Our solutions also integrate embedded intelligence and security, providing robust capabilities for handling and protecting large amounts of data efficiently.

Could you share your approach to talent development within GF, particularly in encouraging the next generation of semiconductor engineers?

GlobalFoundries takes a comprehensive approach to talent development, emphasising continuous learning, innovation, and empowerment. GF advocates for modernising job roles through digital transformation. By leveraging AI, machine learning, and other advanced technologies, engineers can optimise production, improve quality, reduce waste, and address manufacturing challenges more efficiently. This also reshapes perceptions about the industry, attracting tech-savvy GenZ talent.

Given the semiconductor industry’s highly skilled workforce, GF nurtures a robust skills ecosystem focused on continuous upskilling, reskilling, and cross-skilling.

We provide various learning opportunities, scholarships, work-study programs, and strategic partnerships tailored to support employees at every career stage. Through strong collaborations with local universities and government agencies, GF ensures it stays at the forefront of innovation while actively developing the next generation of semiconductor talent.

Given GF’s global footprint, what unique opportunities or challenges come with managing a team in Singapore within such a multinational organisation?

Managing a team in Singapore at GlobalFoundries offers opportunities for global collaboration, access to a skilled workforce, and leadership in the growing semiconductor sector.

However, challenges include navigating cross-cultural differences and ensuring inclusivity, as diverse communication styles and work norms require thoughtful leadership to foster integration and alignment.

GlobalFoundries promotes inclusion and cultural diversity through initiatives like executive-sponsored Employee Resource Groups for connection and advocacy, cultural competence tools like GlobeSmart to improve cross-cultural collaboration, and inclusive leadership training to equip managers with the skills to foster diversity and equal opportunities.

This approach helps maximise the potential of a diverse team while contributing to the continued success and growth of the organisation in the semiconductor industry.

How will the semiconductor landscape change over the next decade, especially in Southeast Asia?

Southeast Asia has experienced significant growth in its semiconductor industry, with Singapore standing out as a key hub. The country boasts a robust semiconductor ecosystem, including design houses, foundries, and equipment and material suppliers.

The region’s lower labour costs, skilled workforce, and stable infrastructure have driven the growth of backend and testing facilities. Geopolitical shifts have further increased Southeast Asia’s appeal as an alternative location for companies looking to diversify their semiconductor production.

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As the semiconductor ecosystem in Southeast Asia continues to grow, particularly in backend services like assembly, packaging, and testing, the region’s role in the global semiconductor supply chain will only strengthen.

What advice would you give emerging female leaders aiming for a career in STEM, especially in a traditionally male-dominated industry like semiconductors?

Female leaders’ contributions are crucial to shaping the semiconductor industry, which thrives on innovation. I would encourage emerging female leaders to embrace the power of their unique perspective and resilience, be brave in exploring their interests, and pursue their aspirations with confidence.

To support their growth, female leaders should consider building a network of mentors and allies. Every challenge one overcomes paves the way for others, and every step forward strengthens the presence of women in this field.

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Echelon Philippines 2024: Expanding Web3 applications for real-world challenges

Navigating the Next Evolution of the Web3 Space

As part of Echelon Philippines 2024, a panel titled ‘Navigating the Next Evolution of the Web3 Space’, moderated by Luis Buenaventura, Assistant Vice President at GCash, featured Toffer Briones, Country Managing Director at Block Dojo; Nichel Gaba, CEO and Founder of PDAX; and Beryl Li, Co-Founder of Yield Guild Games (YGG). The discussion focused on the evolving Web3 landscape, emerging trends, and expectations for the next 18 months.

The discussion highlighted the importance of expanding Web3 applications beyond traditional use cases like gaming. The panel emphasised the potential of blockchain and tokenisation to address real-world challenges, such as improving access to financial instruments and enabling the democratisation of economic opportunities. The tokenisation of real-world assets, including government bonds, was identified as a key area that could enhance financial inclusion and accessibility.

Also Read: Echelon Philippines 2024: The funding landscape for Filipino startups

Innovation in early-stage ventures was also explored, with the panel underlining the value of startups solving practical problems through blockchain technology. User experience emerged as a critical factor, with the panel agreeing that simplified and impactful applications are essential for mainstream adoption of Web3 tools and platforms.

The session closed on a forward-looking note, projecting significant advancements in decentralised models and their integration into everyday systems. With a focus on practical, user-centric approaches, the Web3 space is set to evolve rapidly, creating new opportunities for individuals and businesses alike.

This panel showcased how the ecosystem is gearing up to align technological progress with tangible societal benefits, setting the stage for its next phase of growth.

Watch the session video above to learn more about these insights and the strategies shaping the future of entrepreneurship.

Missed Echelon Philippines this year? You can now catch the recorded sessions on demand, showcasing insights from leading startup experts, visionary entrepreneurs, and forward-thinking investors from the Philippines and Southeast Asia, all geared toward driving the next phase of growth. And stay tuned—more videos are coming soon!

Watch Echelon Philippines and ECX here.

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Startup ecosystem in Indonesia defies innovation potential expectation in new global report

Indonesia’s startup ecosystem has achieved notable success in the recently unveiled APEXE Nations Report, a collaborative study by Startup Genome and the Global Entrepreneurship Network.

Released during the G20 Social Summit in Rio de Janeiro, the report introduces a groundbreaking framework for evaluating national startup ecosystems. Known as APEXE—Aptitudes and Policies for Exponential Entrepreneurship, the framework provides a data-driven analysis that captures the interplay of innovation potential, ecosystem performance, and policy effectiveness.

According to the report, Indonesia’s performance in converting innovation potential into entrepreneurial success surpasses expectations. Ranking 13th among G20 nations in the Lab-to-Startup Conversion metric, the country demonstrates an ability to extract value from its relatively modest Innovation Potential Score of 0.60.

Meanwhile, its Startup Ecosystem Score of 0.71—an aggregate of metrics such as funding, talent, and global reach, highlighting the nation’s growing entrepreneurial dynamism.

However, Indonesia’s overall APEXE ranking sits at 15th, reflecting room for growth in policy implementation and the scale of its innovation potential. With a Policy Score of 5, Indonesia performs respectably but falls short of regional leaders such as South Korea, which boasts a Policy Score of 7.

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A deep dive into Indonesia’s metrics

The APEXE framework evaluates startup ecosystems through several lenses. Among them, the Lab-to-Startup Conversion ranking is particularly insightful. It compares a country’s Startup Ecosystem Score against its Innovation Potential Score, revealing how effectively nations leverage their innovation capabilities. Indonesia’s relatively high conversion ranking suggests it outperforms in translating its modest innovation base into tangible entrepreneurial outcomes.

The Startup Ecosystem Score itself is multifaceted, encompassing factors such as:

Funding
Measures the availability of early-stage capital and the presence of seasoned venture capitalists.

Talent
Evaluates the ecosystem’s experience and technical expertise, such as the concentration of top developers.

Global reach
Tracks international expansion by startups.

Performance
Includes late-stage funding and the number of unicorns as indicators of ecosystem maturity.

Indonesia’s ecosystem excels particularly in global reach and performance, which underscores the country’s increasing integration into global markets.

Also Read: Geopolitical shifts have increased SEA’s appeal as a semiconductor hub: GlobalFoundries’s Siah Soh Yun

The report positions Indonesia among other Asian G20 nations, providing a comparative perspective on its strengths and challenges.

China
Ranking 7th overall, China combines a high Startup Ecosystem Score of 1.02 with an Innovation Potential Score of 0.71. Its performance benefits from significant venture capital activity and global connectivity, though its ranking is tempered by the sheer scale of its GDP and population.

India
A standout performer, India ranks 4th in APEXE. Its Startup Ecosystem Score of 1.22 far exceeds its Innovation Potential Score of 0.53, reflecting its ability to scale startups efficiently. This success is driven by a high Ecosystem Value-to-GDP ratio and multiple ecosystems ranked in global top tiers.

Japan
Despite an impressive Innovation Potential Score of 1.22, Japan ranks 12th overall, indicating challenges in converting its resources into startup success.

South Korea
Ranking 5th, South Korea excels across most metrics, with high scores in both policy and ecosystem performance.

As mentioned, Indonesia, in comparison, demonstrates promise but lags behind these regional peers in policy impact and innovation capacity. Its Policy Score, for instance, highlights gaps in mechanisms such as entrepreneur visa programmes and tax relief for early-stage investors—tools effectively leveraged by higher-ranked nations.

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On the problem of policies and the path forward

The report underscores the pivotal role of policy in shaping ecosystem success. Indonesia’s score of 5 for policy reflects progress, particularly in fostering early-stage funding and startup support programs.

However, further enhancements could significantly boost its ecosystem. These might include expanding employee stock option schemes (ESOPs), improving visa accessibility for foreign entrepreneurs, and introducing fund-of-funds initiatives to catalyse venture capital activity.

While Indonesia’s overall Innovation Potential Score remains modest, targeted investments in research and development, as well as university-industry collaboration, could elevate its standing. By bolstering foundational elements of innovation, Indonesia could not only enhance its Startup Ecosystem Score but also strengthen its competitive position regionally and globally.

Indonesia’s performance in the APEXE Nations Report highlights a startup ecosystem that is greater than the sum of its parts. Despite limited innovation resources, it has leveraged talent and funding to build a globally connected and increasingly resilient entrepreneurial landscape.

Yet, the path forward requires careful alignment of policy and innovation to sustain and amplify this growth. By addressing gaps in its policy framework and investing in the broader innovation ecosystem, Indonesia has the potential to rise further in future rankings, becoming a more dominant player in the global startup arena.

Image Credit: Andreas Bayu on Unsplash

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A new blueprint for modernising Southeast Asian banking for the digital future

Southeast Asian banks are at a critical juncture. The region’s rapid digital transformation is evident in the dramatic shift from cash to digital payments, which now account for 50 per cent of total transaction value. While urban centres race ahead with fintech innovation, areas beyond cities risk falling into a digital economic divide, unable to meaningfully participate in the digital economy despite having internet access.

With their established networks and trust, banks are uniquely positioned to bridge this digital divide — but only if they can modernise their technology infrastructure efficiently.

The evidence suggests banks achieve optimal results when they focus on their core strengths, financial services and customer relationships, while partnering with specialists for technology infrastructure. This model not only accelerates innovation but also ensures that digital banking services can be deployed cost-effectively across both metropolitan and underserved areas.

The hidden cost of fragmentation

Across Southeast Asia, traditional banks typically operate with a patchwork of systems cobbled together over decades. This fragmentation creates particular challenges in a region where cross-border transactions are commonplace and regulatory requirements vary significantly by country.

While metro customers might tolerate system inefficiencies by switching between banking channels, customers in underserved areas often abandon digital banking altogether when faced with complex, unreliable systems. The real cost isn’t just financial — it’s the missed opportunity to serve all market segments effectively.

Beyond APIs: A unified approach

The complexity of Southeast Asia’s banking ecosystem demands more than simple API integration. Success in this region requires comprehensive solutions that seamlessly address local regulatory compliance and integration with regional payment systems. Leading platforms combine APIs, SDKs, and integrated channels into one cohesive system, enabling significant reductions in time-to-market and maintenance overhead.

The unified approach enables banks to rapidly deploy scalable services that work efficiently across all markets. Banks can now launch new business models in as little as six months when partnering fintechs offering such end-to-end digital banking platforms, making it economically viable to serve previously underserved markets without compromising on features or security.

Modernisation without disruption

Banks face the challenge of transitioning from legacy systems without disrupting operations. Successful strategies may employ parallel implementation, allowing banks to maintain their core systems while gradually modernising their infrastructure. This proves particularly valuable where traditional banking services remain essential while digital adoption grows.

Also Read: How digital banking is driving financial inclusion in SEA

This modernisation imperative extends beyond systems to user experiences. Banks must cater to vastly different user needs and digital literacy levels — from sophisticated mobile-first users to those new to digital banking. Success depends on interfaces that adapt to local constraints like internet connectivity while remaining accessible regardless of technical literacy or location.

Security, compliance, and data by design

Southeast Asia’s regulatory landscape is uniquely complex, with each country maintaining distinct requirements for data localisation, privacy, and security. For example, Singapore’s Personal Data Protection Act (PDPA) allows for implied consent in some cases, while Indonesia’s PDP requires explicit, informed, purpose-specific, and recorded consent. Banks would require assistance to adapt their consent mechanisms to comply with each country’s regulations, potentially offering different consent options based on the user’s location.

Modern banking infrastructure requires embedded compliance controls and continuous monitoring that can adapt to changing compliance mandates across jurisdictions. Effective solutions should incorporate robust analytics capabilities to help banks understand and serve diverse market segments — from transaction patterns to channel preferences.

The future of banking technology in Southeast Asia

Recent innovations in the region demonstrate how unified platforms can help banks serve diverse markets efficiently. Several global banks, including Standard Chartered, have successfully implemented Banking-as-a-Service solutions, proving that traditional institutions can innovate rapidly while maintaining consistent service quality across different market segments.

As Southeast Asia’s digital banking sector expands, banks face a clear strategic choice: focus on customer relationships and market growth while leveraging unified technology platforms. This strategic shift could help unlock the region’s US$38 billion digital banking opportunity while ensuring services reach all segments of society.

The path forward for Southeast Asian banks lies in embracing comprehensive innovations that will unlock new opportunities across Southeast Asia’s burgeoning digital economy while bringing essential banking services to previously underserved communities.

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