OCBC set to make fintech foray as well

Singapore

OCBC Bank may soon start a fintech unit, joining its peers in trying to crack the fintech space.

The bank is open to working with startups and exploring areas in fintech, a spokeswoman told The Business Times on Wednesday.

This comes as banks here watch developments in the payment space. They are also seeing how it can play in the peer-to-peer lenders' market while keeping within regulatory boundaries.

Certain peer-to-peer lenders still rely on bank loans, while banks are discouraged from taking large risks in lending directly to companies that do poorly under the traditional credit scoring methods, since the bulk of their funding comes from cus…