Three out of the five licensed digital banks which have begun operations are showing encouraging numbers, but they are unlikely to pose near to medium-term threats to conventional banks, says UOB Kay Hian (UOBKH) Research.

The three digital banks which are operational are GXBank, Boost Bank and AEON Bank, while Ryt Bank and KAF Digital Bank remain in the pilot phase and are currently undergoing controlled testing with selected users to fine-tune their platforms ahead of a broader public rollout.....