hope you can talk about the happenings at US stock market now.. to advise whether to sell, hold, or buy more. It is such a bearish state as of now due to Fed's decisions to keep raising interest rates. It is also affecting my SG REIT portfolio.. later might even affect our MY market.
If one looks at how traditional bank like Public bank run the business, how would digital banks be able to serve the under-served? maybe one should look at how Alibaba(but do we have such data and information?) make use of it's huge data base for individual spending and payment behaviour/pattern to model and minimize it's risk to run this kind of micro-financing/lending successfully, otherwise they may end up not lending to the under-served or having too much NPL.
i lived in HK for a long time... we basically used the digital banks like credit cards - each have different perks and different benefits. I would only put in just enough money to reach those benefits. And then of course take they money out immediately when they changed the benefit schedule. i still used my Citibank account for everything "serious." i don't know how these guys can make money in such a developed market. Malaysia is not really that underbanked as well..
Habiss lah.... old people like who simply cannot work or do any task/business online, user name laa, pin laaa, passwd laa and all the apa2 pelesit lagi, and some more scammers laa... and other blood sucking creature in the world now. And the govt allowed it....
The business objectives envisaged by BNM may be socially beneficial but is highly unlikely to be profitable. The people they seek to help are mainly not digitally proficient. Nor is the model realistic given that banking is about making a margin on lending other people’s money. As someone noted, would the rich put their hundreds of thousands or even tens of thousands into a bank that exists only digitally? In the old days, banks build big general office buildings to assure the prospective depositors of their stability. Eventually, the digital services will be offered to the middle market in order to survive. Hence, the existing banks will benefit either by building a digital bank or buying up a technologically viable one.
Ahh...Sorry can you first please explain why they are called "digital " bank ? Are they micro lending banks like what you have explained? How is it different from a conventional bank , operation wise ? What services they provide to customers that a conventional bank don't or can't ? If their main focus are on the under served customers that conventional banks do not bother, does that mean that they are exposed to higher default risks ? Thanks
One of Digital bank's license criteria: No branches allowed. 100% online including opening saving accounts. Provide services similar to banks except work with 3rd party bank for checking account.
Due to their super low cost set up and minimal manpower operations. They feasibly can serve small ticket transactions (loan, deposit, investment, insurance) WeBank in China employs 200 staff but serve 42 mil customers.
Serving the underbank may incur higher default risk but due to low operations cost (AI assessment, AI collection strategy, Automated processing,). Digital banks can still be very profitable even with higher impairment cost
@@calvyncraven1141 Thanks for the info. I wonder why Sarawak didnt get the license. I personally think they are more qualified than some of the other companies who managed to get it.
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hope you can talk about the happenings at US stock market now.. to advise whether to sell, hold, or buy more. It is such a bearish state as of now due to Fed's decisions to keep raising interest rates. It is also affecting my SG REIT portfolio.. later might even affect our MY market.
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If one looks at how traditional bank like Public bank run the business, how would digital banks be able to serve the under-served? maybe one should look at how Alibaba(but do we have such data and information?) make use of it's huge data base for individual spending and payment behaviour/pattern to model and minimize it's risk to run this kind of micro-financing/lending successfully, otherwise they may end up not lending to the under-served or having too much NPL.
very true. Time will tell.
i lived in HK for a long time... we basically used the digital banks like credit cards - each have different perks and different benefits. I would only put in just enough money to reach those benefits. And then of course take they money out immediately when they changed the benefit schedule. i still used my Citibank account for everything "serious." i don't know how these guys can make money in such a developed market. Malaysia is not really that underbanked as well..
good content as always bro... well done.
Habiss lah.... old people like who simply cannot work or do any task/business online, user name laa, pin laaa, passwd laa and all the apa2 pelesit lagi, and some more scammers laa... and other blood sucking creature in the world now. And the govt allowed it....
The business objectives envisaged by BNM may be socially beneficial but is highly unlikely to be profitable. The people they seek to help are mainly not digitally proficient. Nor is the model realistic given that banking is about making a margin on lending other people’s money. As someone noted, would the rich put their hundreds of thousands or even tens of thousands into a bank that exists only digitally? In the old days, banks build big general office buildings to assure the prospective depositors of their stability.
Eventually, the digital services will be offered to the middle market in order to survive. Hence, the existing banks will benefit either by building a digital bank or buying up a technologically viable one.
Another good comments by MJ and John.
Hahaha... Goyang ke berapa bullion je aku letak ..Kes aku x clear ke lgi ..hahahha... Belum aku send 500 billion lgi....itu sikit je tu..😂😂😂
Ahh...Sorry can you first please explain why they are called "digital " bank ? Are they micro lending banks like what you have explained? How is it different from a conventional bank , operation wise ? What services they provide to customers that a conventional bank don't or can't ? If their main focus are on the under served customers that conventional banks do not bother, does that mean that they are exposed to higher default risks ? Thanks
Yeah, had the same question with these digital bank licenses. What are the financial product that they offer?
One of Digital bank's license criteria:
No branches allowed. 100% online including opening saving accounts.
Provide services similar to banks except work with 3rd party bank for checking account.
Due to their super low cost set up and minimal manpower operations. They feasibly can serve small ticket transactions (loan, deposit, investment, insurance)
WeBank in China employs 200 staff but serve 42 mil customers.
Serving the underbank may incur higher default risk but due to low operations cost (AI assessment, AI collection strategy, Automated processing,). Digital banks can still be very profitable even with higher impairment cost
@@calvyncraven1141 Thanks for the info. I wonder why Sarawak didnt get the license. I personally think they are more qualified than some of the other companies who managed to get it.