Just wondering why is it important to businesses to get the digital bank license? How would it transform their businesses or revenue levels?

A digital bank offers the same type of banking services such as a traditional bank except it operates entirely online without any single physical infrastructure, such as a bank branch.

This allows for reduced overheads for the company and in turn, higher deposit rates for consumers.

In my opinion, businesses are trying to create a seamless eco-system for consumers (e.g. Grab+Singtel). This way, they can secure customers out of convenience (or cross-benefits).