SINGAPORE - Standard Chartered Bank is"clearly interested" in applying for a digital banking licence here with Asean and South Asia chief executive Judy Hsu noting on Monday that the benefits outweigh the risks.
She also noted that the bank is investing in new business models and partnerships to"disrupt" itself. The Monetary Authority of Singapore will issue up to two licences for digital full banks, which can take retail deposits, and three for digital wholesale banks. These will be able to take deposits from small and medium-sized enterprises and other non-retail segments.
But Ms Hsu noted that not having a licence does not prevent the bank from providing digital offerings in the region. Ms Hsu also addressed the situation in Hong Kong, where protests have taken place for 14 consecutive weekends. "So far, we're doing okay but watching closely," she said."We can't underestimate what could happen."
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