Digital Finance Forum: Key takeaways from Global Digital Finance Forum 2026

Research evidence excerpt

Digital Finance Forum: Key takeaways from Global Digital Finance Forum 2026

roduct is the gating Madhvendra Singh*, CFA

item for scaling lending economics; marketplace engagement is crucial to monetisation. (p13) Senior Analyst, TMT HSBC Bank Middle East Limited, DIFC

madhvendra.singh@hsbc.com

Grab: Ecosystem advantage drives lower CAC, better underwriting and wallet-based +971 450 93348

collections; lending stated as the key near-term revenue/EBITDA driver for fintech. (p15) Piyush Choudhary*, CFA

Head of Asia Telecoms

PB Fintech: It expects supportive regulatory outcomes, has no acquisition plans, and The Hongkong and Shanghai Banking Corporation

reaffirmed FY30 guidance. It would continue to prioritise growth over profitability. (p18) Limited, Singapore Branch

piyush.choudhary@hsbc.com.sg

Derayah: Product simplification and zero-commission Saudi equities drive market share +65 6658 0607

gains. D360’s latest funding supports breakeven by end’27 and brokerage synergies. Leads Rahil Shah*

Analyst, India Financials

international trading; custody revenue diversification improves earnings quality. (p19) HSBC Securities and Capital Markets (India) Private

Limited

Fawry: Shifting from commoditised payments to broader financial services: ADP ~20% of rahil.shah@hsbc.co.in

+91 22 6628 3719

revenue, lending and monetisation rising, leveraging agents and scaling insuretech. (p25)

Rishabh Dhancholia*

OSL Group: Pivoting into a global regulated digital asset/payments platform with 50+ Analyst, TMT

HSBC Securities and Capital Markets (India) Private

licences; B2B focus and USDGO to capture stablecoin and AI megatrends. (p23) Limited

rishabh.dhancholia@hsbc.co.in

Mexican fintechs building a diversified, not monoline, offering; ‘SuperApp’ strategy being +91 80 30012841