"Today's winners will also look to seek upcoming digital bank licenses in Malaysia and Philippines to create regional powerhouses for bringing fintech and lifestyle together," said Varun Mittal, head of emerging markets fintech business at consultancy EY.
SINGAPORE, Dec 4 (Reuters) - Southeast Asian ride-hailing firm Grab's venture with Singtel and internet platform company Sea Ltd have each won licences to run Singapore's first digital banks, in the city-state's biggest banking shakeup in two decades.
Singapore's move to herald newer players including Alibaba Group affiliate Ant Group and a consortium comprising China's Greenland Financial Holding Group comes as Asian regulators tap tech firms to shake up their often staid markets.
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