Open banking a bigger threat to Singapore banks than digital entrants: report
Open banking may enable consumers to aggregate and compare information across institutions on a single platform
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THE addressable loan market for Singapore's upcoming digital banks is estimated to be worth S$220 billion to S$243 billion, with these digital-only entities likely to catalyse loan growth in underserved segments, according to DBS Group Research.
For perspective, that's about a quarter of the local banks' total Q2 customer loan base of S$923 billion.
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