Digital banks can meet smaller firms' need for customised solutions: Observers

Singapore's banks have ramped up digital services aimed at micro, small and medium-sized enterprises in recent years. PHOTO: ST FILE
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SINGAPORE - Construction industry veteran Justin Herson recalls how challenging it was to maintain a steady cash flow when he was running his family's business specialising in infrastructure projects.

He took out a few loans, of $200,000 to $250,000 each, from local banks but they were far shy of the $2 million he needed to foot his staff's wages and other costs.

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