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5 digital banks join Singapore's credit bureau

The Credit Bureau Singapore (CBS) now has 36 members following the entry of five Singapore-licensed digital banks. William Lim, CBS’ executive director, said the five digital banks will enrich CBS’ data repository as they use innovative technologies to reach out to more consumers. The two full digital banks – the Grab and Singtel joint venture GXS bank, and the Sea wholly-owned subsidiary, MariBank Singapore - will be required, inter alia, to submit to CBS consumer data related to credit reporting. Trust Bank, a partnership between Standard Chartered and FairPrice Group, will also be required to do so. The two digital wholesale banks, Ant Group’s subsidiary ANEXT Bank and Green Link Digital Bank, do not have to submit information related to their small and medium-sized enterprise customers.


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