- Briefing Your roundup of Asian tech and startup news that matter
Aya Lin · · 1 min readIn brief: OCBC, Singtel in talks for virtual bank license, sources say
- Oversea-Chinese Banking Corp (OCBC) is in discussions with companies including Singapore Telecommunications about seeking one of the city-state’s planned virtual bank licenses, according to people familiar with the matter, Bloomberg reported.
- Singapore’s second-largest bank would take a minority stake in any virtual banking joint venture and sees it as a way to tap new customers and markets, the sources said.
- “We are open to forging new partnerships and ventures that allow us to serve new segments and new markets,” Pranav Seth, OCBC’s head of digital and innovation, said in response to questions. However, he declined to comment on reports about a virtual license application.
Editing by Charmaine de Lazo
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
