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OUTLOOK 2022
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Digital banks seen debuting strongly in 2022, but 'long and difficult' path to profitability

They are expected to burn cash in first 2-3 years to try gain enough scale to operate sustainably thereafter

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Published Mon, Jan 3, 2022 · 09:50 PM

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    Singapore

    IT HAS been over a year since Singapore announced its 4 successful digital bank contenders.

    Several Covid-19 variants, regulatory travails and fund-raising rounds later, the aspiring new banks are marching full steam ahead towards a 2022 launch - with a common, ambitious goal to chase down pockets of underserved segments in an already well-banked market.

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