South-east Asia has much room for digital-only banks to grow
There is much room for digital-only banks to grow in South-east Asia, with Singapore being a first-mover in digital banking licensing, said a report out on Tuesday (Nov 3).
The report, released by the Singapore Fintech Association (SFA), Boston Consulting Group and Finastra, was unveiled at the first digital banking symposium here, which is being held online on Tuesday and Wednesday.
It focuses on what it calls digital challenger banks – providers of banking services that are digital-only and not backed by incumbents.
