On Jan 7, MAS announced it had receive seven applications for the two digital full bank (DFB) licences on offer, and 14 applications for the three digital wholesale bank (DWB) licences. MAS says the new digital bank licences attracted strong interest from a diverse group of applicants which include e-commerce firms, technology and telecommunications companies, FinTechs (such as crowd-funding platforms and payment services providers) and financial institutions.
SINGAPORE (Mar 24): Close to 65% of Singaporeans are open to the idea of adopting a digital-only bank, according to the Visa Consumer Payment Attitudes Study.
This study was conducted in October last year with 511 Singaporeans, much before the Monetary Authority of Singapore (MAS) had closed its application for the digital bank licences.
