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Singapore's digital banking licenses hold the potential to kick-start the transformation of a region that now excludes many people and businesses from financial services.   © Nikkei illustration
Business Spotlight

Singapore ushers ASEAN into new digital banking era

Grab, Ant and other heavyweights join drive for greater financial inclusion

KENTARO IWAMOTO, Nikkei staff writer | Singapore

SINGAPORE -- It was the week when the "Switzerland of Asia" mixed a dash of Silicon Valley into its tropical version of Zurich.

From Microsoft CEO Satya Nadella to Google CEO Sundar Pichai, Singapore attracted top tech leaders to a weeklong "financial technology" event designed to underline that digitization is integral to the city-state's vision of its future as a banking center.

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