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Two Years In, Are Singapore’s Digital Banks Performing?

  • Singapore's digital banks, including GXS Bank, MariBank, ANEXT Bank, Green Link Digital Bank, and Trust Bank, are reshaping the financial sector by targeting underserved segments and driving innovation.
  • Each digital bank has a distinct niche, catering to specific market needs such as financial inclusivity, personal and business banking, innovative lending solutions, supply chain financing, and retail banking services.
  • These digital banks have introduced new product offerings, emphasizing convenience and tailored solutions for modern lifestyles.
  • While challenges remain, such as regulatory compliance, cybersecurity, and competition from traditional banks, Singapore's digital banks aim to broaden their product offerings, achieve profitability, and expand regionally.

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