Digital banks must not trap underserved in debt, say economists

Alfian Z.M. Tahir

Aeon group leads one of the successful consortia set to offer digital banking services in Malaysia. – EPA pic, May 3, 2022.

IT is important to ensure that digital bank customers, especially those from the low-income group, do not fall into a huge debt trap, an economist said.

Meanwhile, another expert said consumers are unlikely to jump to digital banks immediately, preferring to wait and see what is on offer.

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