It won't be long before a small, obscure bank in Cambodia, Laos or another under-banked country will have access to the same cutting edge financial innovations as the likes of Citibank, DBS and OCBC.
Companies without banking licences will soon be able to offer "white-label" banking services to millions of customers in the remotest places, many of whom have never had them before. Loan approvals will take seconds rather than hours or days. Bots powered by artificial intelligence (AI), which can even make small talk in multiple languages, will guide clients through their banking experience over mobile phones and deliver customised advice.
TO READ THE FULL ARTICLE
Thank you for reading The Straits Times
You have reached one of our Premium stories. To continue reading, get access now or log in if you are a subscriber.
What is Premium?