Liberalisation 'biggest industry shake-up since 1999'

MAS will issue up to five new bank licences for digital players in what experts are calling the biggest industry shake-up since 1999.
MAS will issue up to five new bank licences for digital players in what experts are calling the biggest industry shake-up since 1999.PHOTO: REUTERS

The battle for bank customers has moved online and newcomers without track records in banking are welcome to the fight.

The Monetary Authority of Singapore (MAS) will expand the territory by issuing up to five new bank licences for digital players in what experts are calling the biggest industry shake-up since 1999.

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A version of this article appeared in the print edition of The Straits Times on July 03, 2019, with the headline 'Liberalisation 'biggest industry shake-up since 1999''. Print Edition | Subscribe