KPMG’s thought leadership on digital banking was further featured in a full page spread in Nanyang Siang Pau following the release our recent report entitled Digital Banking: The Inclusive Agenda.
KPMG expects a high number of applicants for the five digital banking licenses to be issued in the country on the back of lower entry requirements in minimum capital and significant market opportunities.
Adrian Lee, Head of Financial Services at KPMG in Malaysia, said the recent customer behaviors in both retail and commercial sectors during the Covid-19 pandemic have evolved in support of digital banking services. “As customers and businesses seek alternatives to safely run operations, the potential is great for digital banking to be the next success story for the financial services sector in Malaysia.
Yeoh Xin Yi, Head of Financial Risk Management at KPMG in Malaysia, said a successful digital bank should incorporate three areas into its strategic blueprint: understanding customer behaviors and expectations, improving financial literacy and inclusion, as well as being an active platform.
Click here to read the full article published in Nanyang Siang Pau.
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