singapore digital bank licenses

Dec

Losers of Singapore digital banking race must shift gears

Now that Singapore’s digital banking race is over, the losers must shift gears. And there were far more failed than successful bids. Of the 14 applicants which made it to the final round, only four were awarded licenses. The Monetary Authority of Singapore (MAS) may issue a fifth license in…

Dec

Asia Banking Research

Big platform companies prevail in Singapore digital banking race

The Monetary of Authority of Singapore (MAS) set the bar high for aspiring digital banks to ensure that the licensees would be well capitalized and have a clear path to profitability. The stringent requirements ensured that defiant upstarts like the UK’s Revolut opted out of the competition. In the end,…

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singapore digital bank licenses