Daily Fintech Conversations

Singapore opens doors for digital banking boom in South East Asia

Originally published at: https://dailyfintech.com/2019/09/27/singapore-opens-doors-for-digital-bank-applications-profitability-key-criteria/

Earlier this year, Hongkong offered digital banking licenses to Alibaba, Tencent and Xiaomi. Therefore, it is not surprising to hear that the Monetary Authority of Singapore (MAS) are opening up their doors to digital banks too. Applications are open for firms wanting to set up a digital bank in Singapore. The deadline for applications is…

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When I worked in Singapore I noted how it was equally comfortable doing business with both regional giants - China and India - as well as many other Asian countries. Plus open to America and Europe. Combine that with a proactive and dynamic Fintech regulator, this city state looks well placed to ride the Asian Fintech wave.