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ANEXT Bank Soft launches as Newest Digital Wholesale Bank

June 06, 2022

ANEXT Bank Soft launches as Newest Digital Wholesale Bank
ANEXT Bank, a digital wholesale bank incorporated in Singapore and a wholly-owned subsidiary of Ant Group, announced its soft launch today. The soft launch follows its receipt of MAS’ approval to commence business on 2 June 2022. 

The Singapore-based digital bank will focus on providing offering digital financial services to local and regional micro, small and medium enterprises, especially those engaging in cross-border operations for growth and global expansion.

Remarking on the soft launch, Ms. Toh Su Mei, the Chief Executive Officer of ANEXT Bank and a banking industry veteran of more than 20 years, said: “We believe it’s time to offer the next generation of financial services that are open and easy for growing organizations. In the midst of rapid acceleration in the digital economy, plans of action are changing and pivoting to become digital-first, in the event that not embracing a hybrid model. Financial services need to develop and be where SMEs are doing their businesses digitally.”

“We are well-positioned to live up to this vision, using Ant Group’s deep bench of technologies and know-how, alongside our client-obsessed local team dedicated to serving the SME community. Adopting an open and collaborative approach, we have faith in joining hands with industry partners and the public sector to give SMEs financial services that are less complex, more secure, and more rewarding,” she added.

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