5 banking innovations that 5G will unlock

The new global wireless standard will transform financial services by enabling the full potential of the cloud, facilitating smart transactions and accelerating credit processes.

In the last decade, Singapore’s banking industry has made impressive strides to transform its offerings to meet the changing needs of customers. According to KPMG’s latest Pulse of Fintech Report, the Republic’s financial technology (fintech) industry saw a three-year high in deals transacted in the first half of 2021, with a total of 72 deals worth US$614.2 million (S$830.9 million) recorded.

In the Asia Pacific region, total fintech investment soared to US$7.5 billion in the same period, with those in the payments space retaining the top spot among investors – a strong indicator of greater transformation to come.

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