StanChart and NTUC Enterprise plan digital-only bank in S'pore

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StanChart and NTUC Enterprise plan digital-only bank in S'pore
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Standard Chartered is planning its second digital-only bank in Asia, teaming up with NTUC Enterprise, according to people familiar with the matter.. Read more at straitstimes.com.

Standard Chartered is planning its second digital-only bank in Asia, teaming up with NTUC Enterprise, according to people familiar with the matter.

Representatives from NTUC Enterprise and Standard Chartered in Singapore declined to comment when contacted by The Straits Times on Sunday. Talks on Standard Chartered's new initiative with NTUC are ongoing and the plan is at an early stage, said the people, who didn't provide a timeline. Foreign banks that"substantially" exceed the SRFB criteria may be allowed to establish a digital-only bank, the MAS said.

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