Economic Affairs
Why I would welcome virtual banks
They are not only better placed to offer cheaper services and more attractive rates but are more innovative too in the services they offer, compared to traditional banks
The Monetary Authority of Singapore (MAS) is considering allowing digital-only banks in Singapore - that is, banks that can operate virtually, without necessarily having any physical branches. If this happens, it will be a big deal and will change banking in Singapore as we know it.
As a consumer, I look forward to that change. Let me explain why.
Please subscribe or log in to continue reading the full article.
Get unlimited access to all stories at $0.99/month
- Latest headlines and exclusive stories
- In-depth analyses and award-winning multimedia content
- Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*
*Terms and conditions apply.
Join ST's Telegram channel here and get the latest breaking news delivered to you.