Welcome to The Top Up! Delivered every Wednesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in fintech. If you’re not a subscriber, get access by registering here.
Hello there,
It’s been a year and a half since Singapore’s first digital bank licensees were announced. Now, the city-state’s first digital wholesale banks have (finally) launched.
This week’s big story by Qishin brings you up to speed with the latest among Southeast Asia’s digital banking players in a comprehensive visual story.
Among them is Ant Group’s Anext Bank, the second of two digital wholesale banks to launch in Singapore. It will certainly be one to watch given Ant’s track record running MyBank in China.
As Putra details in this week’s hot take, Anext Bank’s focus on providing digital financial services to local and regional MSMEs – particularly those that engage in cross-border operations – would tie in nicely with other Alibaba-owned entities like Lazada.
But might there also be cross-border collaboration between Anext Bank and Alibaba’s other fintech and banking affiliates in markets like Indonesia? Read on to find out.
— Melissa
THE BIG STORY
Mapping SEA’s key digital banking players (update)
Image credit: Timmy Loen
Southeast Asia’s digital banking scene is on an uptick with new licensees in Malaysia joining the fray, along with newly launched players in Singapore.
THE HOT TAKE
Will Anext Bank look to alliances for eventual regional expansion?
Photo credit: Anext Bank
NEWS YOU SHOULD KNOW
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
