Digital banks are reshaping the banking industry, but how do they compare with traditional institutions in Singapore?

  • Digital Banks: 100% online, lower fees, fast onboarding, but limited face-to-face service.
  • Traditional Banks: Branch networks, relationship managers, more services but higher costs.

For younger users, digital banks provide flexibility and convenience. For corporates or high-net-worth individuals, traditional banks still dominate with comprehensive services.

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Sophia Tan

About the Author

Helen Lili – Editor, Research Lead
Helen leads tariff analysis and product change tracking. She maintains the normalized dataset that powers our comparison tables and ensures each claim links back to a dated primary source. Read more articles

Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.