A New Digital Banking Dawn for Singapore

Asia seemed to have caught the digital banking bug following Hong Kong’s issuance of the 8 virtual banking license. With Singapore positioning itself as a fintech hub in Asia and beyond, Monetary Authority of Singapore’s (MAS) announcement that it is issuing 5 licenses by 2020 should come as no surprise to anyone.

Digital technologies disrupting industries are a tale as old as time and the financial services sector is not any different.