Surprise partnerships can create new niche banking services
But diverse groups could find it tricky to provide digital banking services as an entity
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Singapore
SINGAPORE'S latest contenders for a digital banking licence may have included several names that are left-of-field to banking, but diverse partnerships are needed to offer niche, untapped services in heavily-banked Singapore, said analysts.
This comes as a consortium that includes Razer Fintech and a private vehicle of the founders of supermarket chain Sheng Siong Group on Thursday said it has applied for a digital full bank licence.
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