SINGAPORE: The large number of Singaporeans still without good access to financial services will be key to creating a successful digital bank in the country, according to executives from Grab Holdings Inc and Singapore Telecommunications Ltd.
Earlier yesterday, Grab and Singtel said they are teaming up to apply for a full digital banking license before the year-end deadline, jumping aboard a Singapore government initiative to attract technology firms into its financial sector to stimulate innovation and competition. The move brings together one of South-East Asia’s largest operators of online businesses from food delivery to car-hailing with Singapore’s largest telecommunications firm.
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