Digital banks seen debuting strongly in 2022, but 'long and difficult' path to profitability

Singapore

IT HAS been over a year since Singapore announced its 4 successful digital bank contenders.

Several Covid-19 variants, regulatory travails and fund-raising rounds later, the aspiring new banks are marching full steam ahead towards a 2022 launch - with a common, ambitious goal to chase down pockets of underserved segments in an already well-banked market.