In the News
Asked 3w ago
Does anyone know why?
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).