Grab and Singtel will bid for a digital-banking licence in Singapore

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Grab and Singtel will bid for a digital-banking licence in Singapore
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Singtel, a Singaporean telecoms group, has failed at mobile money before. Now it is trying again

says the entry of non-banks will “add diversity and choice”. Tech firms should have access to better credit-assessment tools and data, allowing them to lend to underserved small firms and the young.

Much of the interest initially came from early-stage startups, says Eric Dadoun, an angel investor. But’s stiff demands seem to have put off all but household names. Razer, a maker of gaming gear, is leading a consortium that includes investment funds, an insurance firm and an internet company. Gojek , Standard Chartered, local banks and OneConnect are thought to be interested.

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