APU Academic Participation In Global FinTech Research | Asia Pacific University (APU)

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APU Academic Participation In Global FinTech Research

Prof. Dr. Nafis Alam Member of Global Alternative Finance Market Benchmarking Research Team

The COVID-19 pandemic has increased the importance of the Alternative Finance market driven by FinTech platforms. To this end, the Cambridge Centre for Alternative Finance at the University of Cambridge, in association with the UK Foreign, Commonwealth and Development Office, Invesco, The Inter-American Development Bank (IDB) and the Asian Development Bank Institute (ADBI) published the largest Global Alternative Finance Benchmarking Report which provides a clearer picture of the impact of COVID-19 on digital lending and digital capital raising activities around the world.

​We are proud to share that our Head of School, School of Accounting & Finance, Prof. Dr. Nafis Alam, contributed to the research as a member of the global research team, to provide the ASEAN regional analysis of the global report. 

The study which took place over six months collected 1,801 firm-level observations for 2019 & 1,660 firm-level observations for 2020 and found that the global online alternative finance market has grown consistently over the past three years. Global volumes (excluding China) rose by 3% from $89 billion in 2018 to $91 billion in 2019. And in 2020, despite COVID-19, the global market volume rose a further 24% year-on-year to reach $113 billion

The study also found that the donation-based crowdfunding model has experienced exponential growth, accounting for $7 billion globally in 2020 with a growth of 160% between 2019 and 2020 and attributed largely to the flurry of COVID-19 related charitable, community and health-related online fundraising activities around the world

The report will serve as a timely resource and drive further conversations between industry, regulators, policymakers, and market participants on how best to utilize alternative finance to weather the COVID-19 impact on the economy. This report is a testimony of the resilience of the alternative finance industry in the face of all adversity as it has maintained healthy growth and played a supporting role in helping stakeholders through the challenges that unfolded with the COVID-19 outbreak.

Download the full report here to learn more about FinTech in COVID-19:

The summary can be viewed here:


Click here to view the launch video:


Kudos and Well Done Prof. Nafis, for being such an inspiration to our younger generation and making a social impact!