Grab, Singtel Target Singaporeans Overlooked by Banking Giants

The large number of Singaporeans still without good access to financial services will be key to creating a successful digital bank in the country, according to executives from Grab Holdings Inc. and Singapore Telecommunications Ltd.

“We do feel very strongly that we can make a bit of a difference in Singapore. There are real needs that need to be met,” said Arthur Lang, chief executive officer of Singtel’s International Group.

On Monday, Grab and Singtel said they are teaming up to apply for a full digital banking license before the year-end deadline, jumping aboard a Singapore government initiative to ...