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Singapore’s digital banks dangle incentives to win new customers — is it sustainable?

Singapore's digital banks dangle incentives to win new customers — is it sustainable?

Singapore’s new digital retail banks are offering lower fees, more incentives and waiving minimum account balances to win over customers from traditional banks. But how viable is this in the long run?

Bloomberg | Bloomberg | Getty Images

SINGAPORE — Digital retail banks in Singapore are pulling out all stops to win new customers.

Trust Bank and GXS Bank — two online retail banks launched last year — are offering lower fees, more incentives…


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