Virtual banks face challenges in journey to profitability

Issues include high capital requirements and tough regulatory compliance standards

Are digital banks set to take Singapore by storm?

The preferred outcome for the banks without branches would be to gain a respectable market share, with the existing brick-and-mortar banks embracing their disruptive innovation.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
A version of this article appeared in the print edition of The Straits Times on January 20, 2020, with the headline 'Virtual banks face challenges in journey to profitability'. Print Edition | Subscribe