Top Digital-Only Banks Operating in Asia in 2021

Jeremy Cole

Finance:

TOP DIGITAL-ONLY BANKS OPERATING IN ASIA IN 2021

TOP DIGITAL-ONLY BANKS OPERATING IN ASIA IN 2021 Asia is currently one of the world’s fastest growing regions in terms of investment in financial technology, or FinTech.

ONE OF THE KEY DRIVERS OF THIS INCREASED INVESTMENT IS THE RISE IN DIGITAL BANKING, WHICH WAS ACCELERATED DURING THE GLOBAL COVID-19 PANDEMIC. THERE ARE SEVERAL LEADING NEOBANKS NOW OPERATING WITHIN THE REGION.

WeBank WeBank was initially established in China in 2015. WeBank is owned by Tencent, the largest social networking and messaging company in China. Consumer banking services include a variety of loan products as well as personal banking.

Digibank Digibank is based in Singapore and is available exclusively through mobile. To open an account, customers can visit any one of 500 selected cafes throughout the country, using biometric ID cards and their fingerprints to access mobile banking services.

Timo Timo was launched in 2016, becoming the first digital bank in Vietnam. Customers can use the app to manage their accounts, send payments and access a range of financial tools and services.

TIMO WAS LAUNCHED IN 2016, BECOMING THE FIRST DIGITAL BANK IN VIETNAM. CUSTOMERS CAN USE THE APP TO MANAGE THEIR ACCOUNTS, SEND PAYMENTS AND ACCESS A RANGE OF FINANCIAL TOOLS AND SERVICES.

JEREMY COLE You can find out more about growing FinTech investment in Singapore by visiting the blog of Jeremy Cole, Red Rose co-founder.