While small geographically, Singapore has been big on transforming its banking sector. Unsurprisingly, the city-state was among the first to license digital-only banks. The first four were approved just over two years ago, with a fifth following. They have experienced some success against the “big 3”, but will more achievements follow?
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Customer satisfaction with the finance sector in the city-state has increased amid steps by banks to boost their online banking security, while there is less interest in newcomer digital banks.
Customers in Singapore are more satisfied with finance sector there as banks boost their online banking security. However, customers are less interested in newcomer digital banks.