IN FOCUS: What will make you put your money in a digital bank?

Quick Summary:

Nearly two years on, digital banks in Singapore remain unprofitable.

What will it take for them to succeed?

Besides offering favourable exchange rates, it has the added convenience of being able to switch between a debit card and credit card via the app.“There were not a lot of choices for consumers until the digital banks came along,” said Mr How who works as a financial adviser.“More can be done, but competition has been good so far.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: SingaporeHong Kong

Topics: Singapore Customers Bank Deposits Interest Account Customer Trust Banks Digital Other

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-05 @ 06:00:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 3119 words

Reading Time: 18 minutes read

Sentences: 112 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 25898516

View Article Analysis

About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 69 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 2 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

Frequently Asked Questions