This Financial Insights report looks at the state of innovation in remittance and peer-to-peer lending in the Asia/Pacific region. This report is part of a report series that looks at how innovation continues to be seen out of Asia/Pacific's rapidly growing markets.

"In the remittance business, we see successes being made out of more effective use of channels, well-thought-through partnerships, and innovative products," says Angeline Lee, market analyst, Financial Insights, Asia/Pacific. "A confluence of factors has to happen before P2P lending builds significant momentum and becomes a credible threat to traditional banking. However, we believe that financial institutions have to take more than a cursory look at the potential social phenomenon of P2P lending."