Digital Challenger Banks encounter challenges  - THE EDGE SINGAPORE

Banking & finance

Digital Challenger Banks encounter challenges

Only 13 out of 249 digital challenger banks are profitable, BCG says. Of these, 10 are in Asia. All 13 have strong backers

Disruption and Digitalisation

Interest in digital bank licences high; applicants see opportunity as local banks extend their lead

On Jan 7, the Monetary Authority of Singapore (MAS) announced that it had received seven applications for the two digital full bank (DFB) licences on offer, and 14 applications for the three digital wholesale bank (DWB) licences.

Global Markets


Singapore (Oct 7): “Officially Tuas is designed to handle 65 million TEUs (20-foot equivalent units), but I am sure PSA can squeeze a little more out of it if we work hard.” – Prime Minister Lee Hsien Loong, at the groundbreaking of the Tuas Megapor