Will banks' courtships end in marriage?

Singapore

THE dating frenzy amid the digital banking buzz in Singapore has also hit the three banking incumbents in Singapore, with the lenders understood to have been in talks with digital banking aspirants.

While indicative first dates may have been put on the table, there remains a more salient question of just how keen Singapore banks are to come together with non-banking entities, in the first place.

To be clear, Singapore banks do not need to apply for a digital banking licence. Since 2000, Singapore banks have been able to set up digital bank subsidiaries, either by themselves, or with joint venture partners where the Singapore banks retain control.

But one difference sticking out for now is that Singapore banks are free to take a minority stake under…