FPT, a global IT services provider, has partnered with Audax Financial Technology, a digital banking solutions provider backed by Standard Chartered.

This collaboration aims to generate US$100 million in revenue over the next three years.

Under the agreement, FPT will act as Audax’s primary partner in the region.

It will offer development, testing, deployment, and operational support.

The partnership will use FPT’s expertise in cloud-native development alongside Audax’s digital banking platform to help financial institutions modernize their systems.

The collaboration also aims to improve financial inclusion, mainly in underbanked areas.

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🔗 Source: FPT

🧠 Food for thought

1️⃣ Asia Pacific fintech ecosystem shows explosive growth supporting market projections

The $100 million revenue target set by FPT and audax aligns with the broader growth seen across Asia Pacific’s fintech landscape.

Recent analysis shows multiple companies achieving extraordinary growth rates, such as Endowus (1345% growth rate with $6.58 million revenue), Aspire (989% growth with $39.79 million revenue), and Nium (575% growth with $109.90 million revenue) 1.

These growth figures support the article’s projection that the Asia Pacific digital banking market will grow 110% to reach $360 billion by 2030, demonstrating that the partnership is targeting a rapidly expanding market opportunity.

The concentrated growth of fintech companies in this region is particularly noteworthy as it shows the market can support multiple high-growth players simultaneously, suggesting there’s substantial potential for digital banking solutions.

The partnership’s focus on cloud-native development and microservices architecture positions it to capitalize on the same technological advantages driving these fast-growing companies.

2️⃣ Financial inclusion emerges as key driver for digital banking transformation

The partnership’s emphasis on financial inclusion reflects broader industry priorities, with nearly 96% of fintech companies now focusing on expanding access to financial services through digital solutions 1.

This strategic focus is timely as financial inclusion in Asia is projected to grow from 67.2% in 2023 to 80.2% by 2030, surpassing the global average of 76.8% 2.

The acceleration is particularly notable considering Asia lagged behind other regions until 2015 but has since taken the lead in financial accessibility, driven by digital transformation and improved regulatory environments 2.

This trend creates a significant market opportunity in the underbanked segments mentioned in the FPT-audax announcement, especially as financial inclusion has increased 82% in Asia over the past 15 years 2.

The Banking-as-a-Service model highlighted in the partnership directly addresses this opportunity by allowing traditional institutions to rapidly deploy digital services to previously underserved populations.

3️⃣ Strategic cross-industry partnerships becoming essential for digital acceleration

The FPT-audax alliance represents a growing trend of partnerships that combine specialized technological capabilities with industry-specific expertise to accelerate digital transformation.

The banking sector specifically is seeing increased partnership activity as the need to modernize legacy systems becomes urgent, with experts emphasizing that collaboration between banks and fintechs is essential for delivering integrated services 3.

These partnerships help overcome challenges such as shortages in technology talent and the complexity of regulatory environments across different markets 3.

The evolution of the FPT-audax relationship from product development to strategic alliance demonstrates how successful partnerships typically deepen over time, moving from transactional to transformational relationships.

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