Financial Quotient

What is a digital bank?

New: Gift this subscriber-only story to your friends and family

A digital bank offers banking services such as deposits, loans, debit and credit cards like a traditional bank, except that transactions are performed online and the bank does not have a physical branch.

It is different from digital banking, which refers to the online banking services that traditional banks offer to its customers now via the Internet or on mobile devices.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.

A version of this article appeared in the print edition of The Sunday Times on December 22, 2019, with the headline What is a digital bank?. Subscribe