Digital banking: The MAS plans to issue licences for up to two full digital banks and up to three digital wholesale banks. — Reuters
SINGAPORE: Singapore’s central bank has kicked off the application process for up to five new digital bank licences and issued detailed guidelines for potential contenders.
The entry of new players could lead to the biggest shake-up in two decades in a market dominated by local banks DBS Group Holdings Ltd, Oversea-Chinese Banking Corp and United Overseas Bank Ltd.
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