Delay of digibank results due to Covid-19 not a dial back in commitment

Singapore

PUSHING back the digital banking timeline is not a signal that Singapore is dialling back its ambitions on this front. Instead, it is giving contenders some breathing room to navigate the virus outbreak situation, said industry players.

This is in response to the Monetary Authority of Singapore's (MAS) announcement on Thursday that successful applicants of the five digital banking licences offered will be informed in the second half of 2020 - not June 2020 as originally intended.