Traditional Banking Model Under Threat: Time to Rethink
Singapore is preparing for the digital bank launch in 2021, which will create New Digital Banks (NDBs) that will launch customer-centric, differentiated products with promise seamless user experience. But where does this leave incumbent banks?
In this EY white paper, we will look at the shift in the digital banking landscape across the Asia Pacific and why the NDB drive in Singapore will change the playing field. It will detail the key trends that will shape the landscape, and the challenges incumbents will face. The thought leadership piece will also argue that incumbent banks need to relook at their strategies and learn to capitalize on their two advantages: trust and current relationships. Else, they risk becoming sidelined or made irrelevant.
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