The banking scene in Asia-Pacific has evolved rapidly in recent years. The proliferation of smartphones and high rates of internet penetration are reshaping the way banks service their customers in the region. This comes as new digital banks emerge to challenge traditional banks in building better digital channels.

For instance, digital banks are able to offer customers something traditional banks with legacy IT systems struggle to deliver: banking built for the digital age, from deposits and loans to asset management and insurance, all available 24/7 thanks to a high degree of automation. Digital banks are also able to capitalize on the opportunities provided by the rise of Banking-as-a-Service (BaaS) to build strategic partnerships.

In this two-part blog series, we will explore why an ecosystem approach is integral to the success of Singapore's digital banks, as well as why digital banks in Singapore should focus on customers as the priority in order to succeed.

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Equinix Inc. published this content on 18 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2020 15:14:07 UTC