Interest in digital banking picks up amid Covid-19

RAM Ratings Sophia Lee: We do not expect digital banks to compete with unsustainable rates as they are required to prove their profitability and sustainability to the central bank in order to maintain their licences."

THE Covid-19 pandemic has triggered a spike in the use of technology and digital channels for payments and banking transactions.

With the movement control order (MCO) which began on March 18 and with the current conditional MCO, many prefer to conduct banking transactions digitally.