DBS chief welcomes China's tougher fintech rules

Increased oversight of firms in Asia could help boost fairer competition among players

DBS chief Piyush Gupta has been upgrading technology and digitalisation in anticipation of growing competition.
DBS chief Piyush Gupta has been upgrading technology and digitalisation in anticipation of growing competition.

DBS Group Holdings' chief executive welcomes the increased regulatory scrutiny of financial technology companies in China and elsewhere in Asia, saying it will create fairer competition with banks that have been subject to stricter oversight.

"Over time, you will start getting a more level-playing field and you'll start getting a proportionate and even regulatory response to all participants in the market," Mr Piyush Gupta said in an interview with Bloomberg Television yesterday.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

A version of this article appeared in the print edition of The Straits Times on November 20, 2020, with the headline 'DBS chief welcomes China's tougher fintech rules'. Print Edition | Subscribe