While India has been a leader in fintech in South Asia, Pakistan and Bangladesh have significant potential for growth in the payments and digital banking sectors. Pakistan's fintech sector had a record year in 2022, with digital banks being approved to serve the unbanked population. Bangladesh, with a large population lacking bank accounts, is also a prime candidate for digital banks, with the government aiming for 75% of local transactions to be conducted digitally by 2027. Ant, a major player in the fintech industry, has a stake in bKash, Bangladesh's leading e-wallet, and a strong presence in Pakistan's fintech through its partnership with Telenor.