Disruptive forces on horizon for Singapore digital banking

Singapore

SINGAPORE lenders may not be under siege in the online banking sector right now but a look at innovations across the world show that they must still be prepared.

Banks in Singapore say their trusted, regulated forms give them a strong advantage over emerging digital banks and non-bank players, and that they see big growth potential from milking data and being online - an area gaining importance as customer loyalties lie with banks that move with the times.