Singapore banks could still win despite e-payment disruption: Morgan Stanley

SINGAPORE (Sept 7): The rise of e-payments might create a potentially existential challenge for banks, but two Singapore banks are expected to emerge winners despite the disruption, according to Morgan Stanley Research.

Across Asean, banks are expected to lose between US$13.1 and $15.5 billion ($18.0 and $21.3 billion) in value to non-bank operators by 2022 as a result of this e-payments disruption, Morgan Stanley says in a recent report.

“In our view, this is not just about the money that can be made from processing payments. It's also about payments as a gateway to deposits and other financial products, transferring value away from banks and towards non-banks,” it adds.

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