PwC’s Wanyi Wong: Speed alone is no longer enough for fintech success

She mentioned that amidst evolving consumer expectations, the products winning today are the ones that are instant, contextual and trustworthy.

Asia's fintech sector continues to be one of the world's fastest-growing innovation hubs in the past year, amidst a focus on the rapid integration of artificial intelligence (AI)-native capabilities and the expanding digital banking ecosystems. Regulators have also enabled an environment that balances rapid innovation with stronger consumer protection and trust, cementing the region’s role as a dominant engine in the global digital finance landscape.

Offering her valuable insights in this discussion is PwC Singapore’s FinTech Leader and Banking and Capital Markets Partner Wanyi Wong, who brings extensive experience in providing assurance and advisory services across PwC Network firms in Singapore, New York, and Sydney.

In her role as a fintech leader, Wanyi collaborates with high-growth companies, emerging technology firms, venture capitalists, financial institutions, and regulators. Within the practice, she is supported by team leads specialising in payments, lending, web3, insurtech, and wealthtech.

As one of the judges for the Asian Banking & Finance Fintech Awards 2026, she uncovers key trends shaping Asia's fintech ecosystem, the sector's progress in expanding financial inclusion, and the role of cross-border partnerships in accelerating regional innovation. She also examines how shifting consumer demands are influencing the evolution of fintech solutions, whilst highlighting the operational and regulatory challenges that are expected to define the industry's future.

As PwC Singapore’s Fintech Leader, how do you define your role in bridging traditional financial institutions and emerging tech players?

I see my role as that of a connector. In my role, I serve both traditional financial institutions and fintechs; therefore, I have the unique vantage point of seeing how they can help each other in a win-win situation. Increasingly, collaboration between banks and fintechs isn’t a stopgap measure – it’s a strategic imperative for both. I contribute by connecting them at the right contact level.

How would you assess the effectiveness of fintech players in delivering their promise of financial inclusion today?

There are successes in the ecosystem which we should recognise. Embedded finance has made access genuinely frictionless – lending, insurance and payments are now available to many who were historically underserved. In addition, real-time payment linkages such as PayNow and regional QR interoperability have cut the cost and time of remittances dramatically.

How are cross-border collaborations influencing fintech growth in Asia?

Cross-border collaboration has moved from aspiration to infrastructure. For example, Project Nexus – the multilateral gateway looking to link instant payment systems across Singapore, Malaysia, Indonesia, the Philippines and Thailand – is promising to be the infrastructure which breaks down existing barriers. In addition, there has been a strong push by regulators for interoperability across jurisdictions. This interoperability, combined with regulatory clarity, is giving industry players more confidence that the fragmented markets in Asia may be easier to operate in.

How are evolving consumer expectations in Asia shaping the next generation of fintech products and services?

Consumers, especially Millennials and Gen Z, no longer think of “fintech” as a separate app – they expect financial services to simply appear inside the platforms they already use, whether that’s e-commerce, ride-hailing or messaging. At the same time, expectations around personalisation have risen sharply: AI-driven tools that anticipate needs, offer real-time advice and detect fraud invisibly are quickly becoming table stakes rather than differentiators. Put together, the products winning today are the ones that are instant, contextual and trustworthy – speed alone is no longer enough.

What are the biggest operational and regulatory risks that fintech companies must prepare for in the coming years?

Regulatory expectations around technology and AI risk management are rising sharply, and fintechs need to get ahead of this rather than treat it as a compliance obligation. In Singapore, we’re seeing MAS advance AI risk management guidelines, a revised Technology Risk Management framework and stronger third-party risk management requirements almost in parallel – together these represent a meaningfully higher bar on governance, incident management, vendor oversight and safe use of AI.

As a judge for the Asian Banking & Finance Fintech Awards 2026, how should this year’s nominees position themselves in the market to ensure resilience and sustainable growth?

The nominees who stand out to me are the ones who can show substance behind the growth numbers. I’d also encourage nominees to demonstrate how they’re positioning for regional interoperability rather than treating each market as a standalone build. Resilience in this environment isn’t about avoiding regulation or moving fast and breaking things – it’s about treating strong governance, responsible AI adoption and genuine financial inclusion as competitive advantages, because those are ultimately what will determine who is still standing and thriving several years from now.