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HOCK LOCK SIEW

Singapore's digibank experiment is right balance of innovation and prudence

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An emerging player in this area in Singapore is Grab, which has rolled out loans to SMEs in Singapore. Grab would not say how big of a market it has captured thus far, except to say that most of its SME customers are from the food & beverage and retail segment, speaking to its merchant base that swelled from having GrabFood in its network.

THE buzz behind digital banking in Singapore speaks to the belief that small-and-medium-sized enterprises (SMEs) here and in the region can be better served by technology and the use of alternative data to back smaller forms of unsecured lending that has been largely shunned by the incumbent...