Banks shouldn’t be allowed to compete as they already have a full banking license. Only non banking entities should be allowed to compete, except for existing banking associates such as TNGD.

I mean, banks can in theory ALREADY operate a virtual banking arm. Conventional banking license applies to virtual banking license. Duh. For instance, recently I have applied for a Standard Chartered credit card with ZERO face-to-face interaction as a new to bank customer. Credit card sent to my home.

If they want, they can. Just that the local banks are not innovative, so they wanna tie up with Boost/SEA etc. RHB I mean is pathetic, I have credit facilities and savings account with them, yet they required to go to branch to pick up credit card. Mentality so worse than Standard Chartered.

So they should allow other unique entrants, let non-banking groups bring the fight to the banks, who have been resting on their laurels.

This post has been edited by contestchris: Jul 4 2021, 01:45 PM