Singapore digital banks

Digibank aspirants to show MAS updated proposals

THE 21 digital bank applicants in Singapore will be scrubbing through numbers and updating them to show the Monetary Authority of Singapore (MAS) from this month how their businesses and finances...

Digital bank applicants to update MAS on Covid-19's business impact from June

THE 21 digital bank applicants in Singapore will update the Monetary Authority of Singapore (MAS) from this month on how their business and finances have been impacted by the global pandemic, ...

Non-resident deposits in Singapore jump 44% to record S$62b in April

SINGAPORE saw a record jump in deposits in April as investors rushed to park funds here given its status as a safe haven amidst global market volatility, said analysts.

Delay of digibank results due to Covid-19 not a dial back in commitment

PUSHING back the digital banking timeline is not a signal that Singapore is dialling back its ambitions on this front. Instead, it is giving contenders some breathing room to navigate the virus...

MAS delays digital bank licence results to H2 2020

SINGAPORE’S digital banking contenders will need to wait a bit longer to know whether they are successful in their applications.

Citi high-flyer to steer Grab on its digital bank path

FORMER Citibank Singapore's head of retail banking Charles Wong is due to join the Grab-Singtel entity bidding for a digital full bank in Singapore, BT understands.

Sea's digital banking move offers edge over Grab-led bid: report

GIVEN the snug fit between e-commerce and digital banking, shopping platform Shopee's parent Sea Ltd may offer an edge over the Grab-Singtel consortium, with a fresh S&P report seeing these...

Grab ventures into retail wealth management with Bento buy

TAKING a clear step towards offering wealth management for the masses, digital bank contender Grab has acquired Singapore-based robo-advisory startup Bento for an undisclosed sum.

Ping An's OneConnect eyes backstage role in S-E Asian digibank race

ONECONNECT, the fintech associate of China's Ping An Group, decided not to apply for a digital banking licence in Singapore after exploring the prospects, its chief executive for Asia-Pacific and...

Enigma Group leads consortium for digital full bank licence

A CONSORTIUM led by the Singapore-headquartered Enigma Group has applied for a digital full bank licence in the Republic, with an eye on serving underbanked small-and-medium-sized enterprises (...

Finance companies to crank up game as digibanks target SME turf

HAVING enjoyed some lift in their business following relaxed financing rules in 2017, finance companies may have to brace for a tougher fight defending their turf in their core small and medium-...