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Gig workers, foreign workforce may be well served by digital banks

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A The Monetary Authority of Singapore recently announced that up to five new digital bank licences will be issued, signalling a new phase of banking liberalisation.

This will impact individuals, as well as enterprises, that have traditionally been excluded by banks due to their risk profile.

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A version of this article appeared in the print edition of The Straits Times on July 19, 2019, with the headline Gig workers, foreign workforce may be well served by digital banks. Subscribe