Finding right partners, regulation key concerns of fintech startups
Singapore
SOME fintech startups that are giving traditional banks a run for their money seem unfazed by the incumbent banks' response, even if some of them are working to build digital capabilities within themselves.
A challenge for traditional banks is that they need a completely different set of people to develop a digital bank successfully from scratch, versus employees who may be used to just thinking about optimising profit margins, said Jakub Zakrzewski, APAC general manager at London-based fintech Revolut, one of those dubbed "challenger banks".
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea