Virtual Banking

77% Consumers in Asia Pacific Prefers to Bank Digitally

Consumers in Asia Pacific are some of the most advanced when it comes to digital engagement with financial services, with seventy-three percent of consumers believing that they should be able to accomplish any financial task on a mobile device, according to new

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iFast Eyeing to Expand to Payments and Lending With Digital Banking License

iFast, an internet based investment product distribution platform is reportedly in talks with potential partners pursue a digital banking license in Singapore. Announced late last month, Singapore is looking at issuing up to 5 digital banking licenses; two of which

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Asia-Pacific Banks Don’t See Digital-Only Banks As Their Top Threat

The race is on to digitize banking throughout the Asia-Pacific region, according to an EIU report. It found that competition is intensifying between established retail banks and the technology and e-commerce disruptors that threaten to carve up the payment solutions market.

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Smaller Banks in Singapore Are at Risk As Fintechs Eye Digital Banking License

Competition is heating up in Singapore’s digital banking landscape as an increasing number of fintechs including e-wallet operators and payment services providers are looking to apply for when applications open in August. Liquid Group, Xfers, MatchMove Pay and FOMO Pay are

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7 Things You Need to Know About Singapore’s Digital Banking Licenses

Following the announcement and issuing of Hong Kong’s virtual banking license, Singapore has announced their intentions to launch the same; to allow entities without banking parentage to conduct banking activities. Digital banks generally refers to banking entities that operate without

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Monetary Authority of Singapore to Issue up to 5 Virtual Banking Licenses

Speaking at the 46th Annual Dinner of the Association of Banks, Senior Minister Tharman Shanmugaratnam who is also the Chairman of the Monetary Authority of Singapore announced that they will be issuing up to 5 virtual banking licenses. This announcement

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Grab is Now US$300 Mil Closer to Lofty US$6.5 Bil Goal it Needs to Hit By End of 2019

Grab just announced an additional investment of US$300 million from Invesco , a global independent investment management company. The additional investment in Grab takes Invesco’s overall total input into the ride-hailing-turned-potential-virtual-bank up to US$703 million. The latest capital injection puts

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Singapore PM Confirms That Central Bank is “Seriously Studying” Virtual Banking License

Singapore has already expressed their interest issuing virtual banking licenses, which could potentially admit fintech firms without a traditional bank branch at its core. Now, Singapore’s Prime Minister Lee Hsien Loong has confirmed that the Monetary Authority of Singapore (MAS)

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Calm Down, Grab Isn’t Trying to Become a Bank—Not in the Way You’re Thinking, at Least

Followers of this page are well aware that Grab, one of Singapore’s premier unicorns, has dabbled in many different areas of fintech-fuelled offerings in its drive to become what it self-describes as a “super app”. Most recently though, it seems

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As Challenger Banks Grow In Popularity, Incumbents Must Innovate

Using technology and digital channels, challenger banks are reimagining banking, delivering superior digital customer experience and challenging incumbents to reinvent themselves. These are growing in importance and incumbents must “transform themselves from slow moving caterpillars to agile butterflies,” according to

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