Fintech seen bridging financing gap for the 'under-banked'

Financial technology - or fintech - could contribute to the real economy by bridging the financing gap for "under-banked" individuals and small and medium-sized enterprises lacking a credit history, industry experts said on Thursday during the Boao Forum for Asia 2017.

The four-day BFA Annual Conference 2017, themed "Globalization & Free Trade: The Asian Perspectives", is being held from March 23 to 26 in Boao, Hainan province.

Services built around technology breakthroughs - from big data, cloud computing to artificial intelligence - could build solutions specific to particular finance needs and bring banking to those who need it the most and the underserved, the experts said on Thursday.