Grab targets ASEAN's unbanked in 'once in a lifetime' opportunity

Digital bank, 'buy now, pay later' to drive growth, says executive

20211126 Reuben Lai head of Grab Financial Group

Reuben Lai, head of Grab Financial Group, speaks during a Nikkei webinar. He says he doesn't see traditional banks as competition. (Nikkei montage/Retuers)

TAKASHI NAKANO and KENTARO IWAMOTO, Nikkei staff writers

November 26, 2021 11:56 JST

SINGAPORE -- Singapore tech unicorn Grab is determined to redesign Southeast Asia's underserved financial markets, with the head of its finance unit saying now is a "once in a lifetime" opportunity to drive financial inclusion in the region.

In a webinar on the future of finance organized by Nikkei on Thursday, Reuben Lai, senior managing director of Grab Financial Group, said the company was "ready to drive financial inclusion across Southeast Asia" through its digital-based services and to create "economic empowerment for millions of Southeast Asians."