Finding right partners, regulation key concerns of fintech startups

Singapore

SOME fintech startups that are giving traditional banks a run for their money seem unfazed by the incumbent banks' response, even if some of them are working to build digital capabilities within themselves.

A challenge for traditional banks is that they need a completely different set of people to develop a digital bank successfully from scratch, versus employees who may be used to just thinking about optimising profit margins, said Jakub Zakrzewski, APAC general manager at London-based fintech Revolut, one of those dubbed "challenger banks".