Natalya Burova / Getty Images One of the key trends in the Southeast Asian banking sector is the growing adoption of digital banking and the entry of new providers from nonbanking and tech backgrounds. Driving this adoption is evolving customer expectations and enhanced digital penetration, combined with the desire to serve the underbanked segments of society. But with that growth come an increase in security risks for digital banks and their customers alike. Why digital banking is growing in Southeast Asia According to a report by the Boston Consulting Group (BCG), published in December 2020, “the COVID-19 pandemic has accelerated this trend, as enforced digital transitions have embedded a more immediate impetus for change. These drivers will see Southeast Asia’s digital banking opportunity expanding significantly in coming years, reflecting a trend which has seen over 200 new digital banks established globally over the last decade.”