Grab-Singtel group puts cybersecurity at top of digital bank agenda

Singapore

GRAB and Singtel's consortium is making cybersecurity a top priority for their digital bank. This comes as the new entity faces increasing expectations to prove to regulators and consumers over the next year that its cybersecurity defences are robust enough.

In an interview with The Business Times, Grab Financial Group's senior managing director Reuben Lai said cybersecurity is a critical aspect of the digital banking business. "We've had a few moments where we had issues with data leakage, and those were moments where we worked with the regulator and put in new processes," he said.