Are digital banks the new way to bank? Since the Monetary Authority of Singapore (MAS) began issuing digital bank licences, digital banks have been popping up on our feeds and in our conversations everywhere. Yet, there's still a fair bit of reservations held when it comes to digital banks-and we think we know why. Digital banks aren't physically there. There's...
Are digital banks the new way to bank? Since the Monetary Authority of Singapore began issuing digital bank licences, digital banks have been popping up on our feeds and in our conversations everywhere.
There's nothing about them we can touch or hold, and it can be hard to believe in something we can't see in front of us. That's why a good number of people may still have doubts about digital banks. Here in Singapore, one example of a digital bank is Trust Bank, backed by Standard Chartered and FairPrice Group.Why should we trust the likes of digital banks like Trust Bank? Certainly not just because they called themselves that:
Backing by established organisations: Trust Bank is backed by large organisations with decades of experience in the financial and commercial spheres. You'd be familiar with Standard Chartered, a trusted global bank with more than 160 years of experience in Singapore, and FairPrice Group, which has been Singapore's leading grocery retailer for 50 years.
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