
SEA Will Adopt Digital Banking Quickly, But Here’s What Needs To Be Addressed First
Fintech adoption is growing rapidly in SEA thanks to the pandemic. Customers and SMEs are now finding solutions in digital banking.
Fintech adoption is growing rapidly in SEA thanks to the pandemic. Customers and SMEs are now finding solutions in digital banking.
Digital banks -- also known as challenger, virtual or neo banks -- are luring younger customers with the new approaches to banking that fintech has to offer.
With players like Grab, Razer and Sea, those hoping to snag a digital bank license come from diverse fields and could have interesting things to offer.
The Monetary Authority of Singapore (MAS) has decided to allow non-bank firms to set up digital banks, and will issue up to five licenses.
Grab is exploring to apply for a license if the MAS decides to approve digital-only banks in Singapore.
UOB launches a new digital bank called, TMRW, in Thailand targeted at helping millennials save money efficiently. To launch in Singapore in coming months.