Disruptive forces on horizon for Singapore digital banking
Republic not immune to disruption from upstarts in mobile payments, mobile point of sales, or social lending
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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.
