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Singapore's Incumbent Banks: How Are They Stepping Up Their Digital Game?

Singapore's Incumbent Banks: How Are They Stepping Up Their Digital Game?
fintechnews.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fintechnews.sg Daily Mail and Mail on Sunday newspapers.

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The Four Digital Banks of Singapore


The Four Digital Banks of Singapore
Earlier this month, the
Monetary Authority of Singapore (MAS) announced the first four digital banks approved by the regulator. The first digital banks out of the gate are the culmination of a multi-year process where MAS. In June 2019, MAS announced it would approve up to 5 separate digital bank licenses by 2020. Authorities first started to accept applications in August 2019, with the new bank licenses fell under two separate categories:
(a) up to two digital full bank licenses, which allow licensees to provide a wide range of financial services and take deposits from retail customers; and ....

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