Digibank aspirants have viable path ahead, despite Covid-19 challenge: analysts
But fresh hurdles facing new entrants include the need to show strong fundamentals, innovation, and post-crisis support for businesses
Singapore
DIGITAL bank aspirants in Singapore still have a viable path ahead despite the uncertainties wrought by the pandemic, for the simple reason that there is a flexible timeline for them to set up shop fully.
But analysts also point out fresh hurdles: These new entrants must assure regulators of sound fundamentals and a sustainable model to attract deposits, as well as support businesses looking to recover from the current crisis.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
Barclays is the latest firm to face anti-ESG wrath in Oklahoma
Barclays prices mortgage-backed notes in deal with GoldenTree
TD risks an earnings hit from US laundering probe, analysts say