All posts tagged "Virtual Banks"
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817Fintech / RegtechMAS Opens Applications for Digital Bank Licences
Successful applicants will be announced in mid-2020, with the expectation that they meet MAS requirements and commence business by mid-2021.
August 30, 2019 -
1.4KAsia-PacificUncovering the Terms and Conditions for Technology
Legislators and industry leaders need to work together to ensure the benefits of innovation do not come at the cost of fairness, choice, and privacy, says Zilliqa co-founder Max Kantelia.
August 27, 2019 -
1.1KBig PictureSingapore: Two-Thirds of Consumers Willing to Try Digital Banks
A JD Power survey has found that 65% of Singapore customers are interested in opening digital bank accounts. The survey ranked HSBC first, OCBC second and DBS third in customer satisfaction.
August 3, 2019 -
1.0KFeatureTaiwan Issues First Three Digital Bank Licences
The three digital only bank licences went to conglomerates led by Japan's LINE Group; Taiwan's Chunghwa Telecom; and Japanese e-commerce firm Rakuten Inc.
July 31, 2019 -
663Fintech / RegtechFirst Non-Financial Firm Approved to Raise Stake in Korean Digital Bank
According to the FSC, messenger app operator Kakao has met the qualification criteria for owning a 34% stake in Kakao Bank, one of Korea's two internet-only banks.
July 25, 2019 -
1.2KAsia-PacificCompetitive Dynamics in Banking Intensify Across APAC: S&P Global
Indigenous virtual banks, global digital-only banks, and digitised traditional banks are all vying for market share, says a new report from S&P Global Ratings.
July 18, 2019 -
566Fintech / RegtechKorea to Enhance Transparency of Digital Bank Evaluations
The FSC has announced changes to the operational procedures of its evaluation committee for internet-only bank, amid plans to reopen applications for new licences on 10 October.
July 18, 2019 -
4.1KAML / KYCThe Rise of Digital Banks in Asia Raises Compliance Questions
The entrance of FinTech and BigTech firms into banking is forcing incumbents to adapt, but it should not come at a cost to compliance obligations, writes Claus Christensen at Know Your Customer Ltd.
July 16, 2019 -
944Big PictureSingapore Digital Banks to Disrupt Smaller Incumbents the Most
Singapore's big banks will be able to defend against new digital entrants, while small foreign-owned incumbents will face the greatest disruption risk, says Moody's Investors Service.
July 4, 2019 -
2.1KFintech / RegtechMAS to Issue Up to Five Digital Bank Licences
The initiative effectively extends digital bank licences to non-bank players, as existing banking groups in Singapore already have a framework for setting up digital bank subsidiaries.
July 1, 2019
