MAS Fintech Chief: Covid Accelerated Digital Transformation

The video discusses the impact of COVID-19 on fintech, highlighting the acceleration of digital transformation and the issuance of digital banking licenses in Singapore. It addresses regulatory challenges, particularly in China, and emphasizes the importance of a level playing field for fintech companies. The future of fintech is seen as data-driven, with increased competition and consumer benefits.

In what ways do you think traditional banks will adapt to the rise of fintech?

What are the potential benefits of increased competition in the financial services sector?