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.

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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'. Subscribe