• While both lenders and consumers are more cautious and sensitive to risk in volatile times, there is still a huge portion of the population that is upwardly mobile (particularly in Indonesia, India, Philippines, Vietnam), and lenders/solution providers are seeing positive growth and continued demand for innovative credit products here. Predictions: • Consolidation. We’ll see the good businesses with good management, good policies, good products, good solutions – those businesses will survive and continue to grow and thrive. The earlier- stage businesses that are on paper only will experience more of a consolidation. • Having survived a low-capital period will ensure confidence to scale for those businesses that not only survived but thrived during this period and enable greater momentum. There will be a distinct separation and stark contrast between the good businesses and those are that are less well-thought out.
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