Desfran Consulting

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 .

Financial technology (FinTech) can be the key in pushing a country’s banking industry to the forefront of innovation. The government recognizes that and is readying Singapore in its metamorphosis into a smart financial centre. Considering Singapore’s incessant pursuit of new heights in the financial services industry, regulatory sandboxes are available to FinTech business owners seeking such platforms to validate their products .