Digital Bank Licensing in Singapore

The banking and finance industry of Singapore is amongst the most innovative sectors in the world-renowned for its espousal of cutting-edge financial technologies while sustaining robust legislative policies. Working towards the country-wide initiative of a Smart Nation, Singapore’s finance industry stands its ground as a resolute contender in the technological arena. In fact, it is one of the largest steps taken by the city-state as yet to liberalise the banking industry and lower entry barriers for non-conventional applicants. Here are the details about the digital bank licensing and its impact on various stakeholders in Singapore.