ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Finance

From Grab to Ant, Singapore's digital bank race picks up pace

Standard Chartered and other incumbents take lead in push for virtual lending

GXS' app looks more like a music-streaming service than a banking app. (Photo by Tsubasa Suruga) 

SINGAPORE -- Digital banking is accelerating in Singapore as deregulation encourages tech companies like Grab to enter the market in hopes of attracting younger customers and small businesses.

While this is expected to foster banking competition, retail virtual banks have yet to bring their operations fully online because of lingering regulatory restrictions. Meanwhile, incumbents like Standard Chartered are digitizing their services at an accelerating pace.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more