Competition in Southeast Asia’s digital banking space is intensifying as new entrants such as MariBank battle incumbents to lure the increasingly tech-savvy consumers in the region of more than 650 million people. MariBank is locked in fierce competition with Standard Chartered Plc’s Trust Bank and a venture owned by Grab Holdings Ltd. and Singapore Telecommunications (SGX:Z74
) Ltd. called GXS Bank.
Sea Ltd. appointed Natalia Goh as the new leader of its Singapore digital bank, picking the operating chief of rival Trust Bank to steer the Southeast Asian internet company’s budding finance arm.
Goh is replacing Yu Dong Zheng as the chief executive officer of the MariBank unit, and Zheng will become an adviser to the company. The executives announced the changes on their LinkedIn pages.
