“From a structural point of view, you can see the company has been creating separate entities in its digital business — Axiata Digital — to undertake or potentially undertake different businesses in the financial services ecosystem in the future. This is to ensure it adheres to regulatory conditions,” says an industry source.
SINGAPORE (July 8): Telecommunications giant Axiata Group is planning a bigger push into the financial services space and is interested in applying for a digital banking licence here, say industry sources.
“Tracking the group’s strategy thus far, it looks like it is putting the building blocks in place for a potentially larger move into the financial segment, and not just focus on the e-payments sector through its e-wallet Boost.
