Fast evolving fintech scene threatens to upend universal banking
Traditional banking model of being all things to all people requires greater consideration than ever, say analysts
Add BT as a preferred source
Singapore
NEW technologies, changing consumer demands and tougher regulatory requirements have fuelled the rise of financial specialists - banks or fintechs that operate within a narrower segment of the financial services spectrum.
Although the universal banking model is not obsolete, analysts said the banking model of being all things to all people requires greater consideration than ever.
TRENDING NOW
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Indonesia bets on creative economy, IP for growth amid rising global competition
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Fintech titans GCash and Maya test IPO goals as Philippine market thins
