SG digital bank contender iFAST eyes SME, cross-border lending space

Singapore-listed wealth management player iFast-led consortium, which is one of the applicants seeking the city-state’s coveted digital banking licence, is training sights on the SME and cross-border banking space.

“The market segment that is worth chasing after is the good quality SMEs,” Lim Chung Chun, chairman and CEO of Singapore-listed iFAST, told DealStreetAsia. He estimates that the potential market for lending to Singapore’s SMEs would be in the “tens of billions” of dollars.

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