Imagine a world where you never have to step into a physical bank again. No more long queues, no paperwork, and no outdated processes. In Asia, that future is already here.
With the rapid rise of digital banking, millions are now managing their finances seamlessly from their smartphones. But with so many options available, which digital banks are truly leading the charge in 2025?
This article breaks down the top digital banks across Asia, according to The Banker’s Top 100 Digital Banks list, so you can find the best one for your needs by country.
What is a Digital Bank?
A digital bank is a financial institution or operator that runs its entire operations almost entirely online, without zero to few physical branches. Unlike traditional banks, digital banks provide banking services through mobile apps and web platforms, allowing users to seamlessly manage accounts, make transactions, and access financial products.
Traditional banks are also developing digital banking capabilities, blurring the line between traditional and purely digital banks.
What Makes a Digital Bank Stand Out?
Before we dive into the rankings, let’s look at the key factors that define the best digital banks. The top digital banks excel in several critical areas:
They prioritise security and regulation, ensuring compliance with local financial authorities while implementing robust cybersecurity measures to protect users. Premier user experience is another defining factor, with intuitive mobile apps, seamless transactions, and responsive customer support setting the best apart.
Leading digital banks also offer innovative features, including AI-driven financial planning, blockchain technology, and instant payments. They provide a broad range of financial products, from competitive savings accounts to investment and loan services. Lastly, the best digital banks may cater to global users by offering cross-border capabilities, supporting international transactions and multi-currency accounts.
Now, let’s explore the top digital banks in each Asian country for 2025, based off The Banker. All banks listed are based on their reporting date as of 31 December 2023.
Top 5 Digital Banks in Singapore
All five Singapore digital banks make it into this list of top digital banks in Asia, which are Trust Bank, MariBank, GXS Bank, ANEXT Bank, and Green Link Digital Bank.
Trust Bank
Type: Domestically owned subsidiary
Total assets: $1,588 million
Trust Bank is Singapore’s digital bank, born from a unique partnership between Standard Chartered Bank and FairPrice Group. Leveraging the latest technology, it is committed to delivering seamless, customer experience paired with the latest security in its banking solutions.
MariBank
Type: Bank holding company
Total assets: $725 million
MariBank is a digital bank licensed by the Monetary Authority of Singapore (MAS). According to its website, with the MariBank app, customers can manage finances securely, make transactions easily, and earn attractive interest rates—no fees, no minimum balance, no salary crediting, and no minimum spending required.
GXS Bank
Type: Bank holding company
Total assets: $717 million
GXS Bank is a digital bank focused on improving banking for Singapore’s everyday consumers and small businesses. Accessible via its app, Grab, and Singtel Dash, GXS is backed by Grab Holdings, Southeast Asia’s leading super app, and Singtel, Asia’s top communications technology group.
ANEXT Bank
Type: Foreign owned subsidiary
Total assets: $556 million
ANEXT Bank aims to make financial services simple and accessible for SMEs. As a fully regulated digital wholesale bank under MAS in Singapore, it focuses on innovation to provide financial services that are easier, safer, and more rewarding.
Green Link Digital Bank
Type: Bank owned subsidiary
Total assets: $377 million
GLDB provides supply chain finance solutions to MSMEs and tech businesses around the world. With advanced technology, it offers reliable financial services and aims to become a top digital fintech provider.
Top 4 Digital Banks in China
Four of China’s digital banks make it to the top as the best digital banks in Asia, consisting of WeBank, MYBank, CITIC AIBank, and XW Bank.
WeBank
Type: Bank holding company
Total assets: $75,011 million
WeBank is dedicated to serving the financial needs of retail customers and MSMEs. It focuses on key technologies like AI, Blockchain, Cloud Computing, and Big Data. WeBank’s distributed core banking system functions to support hundreds of millions of customers while promoting sustainable financial inclusion
MYBank
Type: bank holding company
Total assets: $63,324 million
Founded in 2015, MYbank was one of China’s first private commercial banks and the first to fully operate its core banking system on the cloud without physical branches. Using AI and remote sensing, MYbank has simplified credit services for farmers, removing lengthy processes and paperwork to make digital loans more accessible.
CITIC AIBank
Type: Bank holding company
Total assets: $15, 758 million
AIBANK, founded by China CITIC Bank and Baidu, is the first digital bank to receive a direct banking license. It specialises in consumer lending, small and medium-sized businesses, auto finance, and wealth management. AIBANK offers fully online financial services using artificial intelligence, big data, and cloud computing.
XW Bank
Type: Bank holding company
Total assets: $14, 417 million
Founded in December 2016, XW Bank is China’s third internet-only bank. Its primary stakeholders include the New Hope Group and Xiaomi Corporation.
Top 6 Digital Banks in Indonesia
Six banks are in Indonesia’s top digital bank list: Seabank, Bank Jago, Allo Bank, Bank Raya Indonesia, Super Bank Indonesia, and Krom Bank Indonesia.
Seabank
Type: Bank holding company
Total assets: $1,831 million
SeaBank is a digital financial institution aiming to become the country’s go-to for digital banking through product optimisation and cutting-edge technology, offering a seamless user experience. Before SEA acquired it in 2021, SeaBank was known as PT Bank Kesejahteraan Ekonomi (BKE), established in 1992.
Together with SEA, SeaBank’s mission is to improve the lives of consumers and small businesses in the region through technology.
Bank Jago
Type: Bank holding company
Total assets: $1,381 million
Built as a tech-based bank within Indonesia’s digital ecosystem, Bank Jago aims to empower millions with life-focused digital financial solutions. It offers both conventional and sharia banking products for individuals, mass markets, and MSMEs.
Allo Bank
Type: Bank holding company
Total assets: $827 million
Allo Bank aims to innovate by providing an all-in-one digital banking app designed to simplify financial needs. Founded in 1992 as PT Bank Arta Griya, it was renamed PT Allo Bank Indonesia, Tbk in June 2021.
Bank Raya Indonesia
Type: Domestically owned subsidiary
Total assets: $807 million
Bank Raya, a subsidiary of Bank Rakyat Indonesia, focuses on empowering Indonesia’s micro and small business sectors. It is a pioneer in digital lending with its flagship product, Pinang—the country’s first full-service digital loan platform designed to accelerate loan disbursement.
Superbank Indonesia
Type: Bank holding company
Total assets: $360 million
Superbank, previously PT Bank Fama International, was founded in Bandung in 1993 and has since transformed into a digital-focused bank. Its journey took a major turn when it joined the Emtek Group at the end of 2021, followed by partnerships with Grab and Singtel in early 2022, and KakaoBank in 2023.
As a new player in Indonesia’s digital banking scene, Superbank aims to improve credit access for retail and MSME customers.
Krom Bank
Type: Bank holding company
Total assets: $236 million
PT Krom Bank Indonesia Tbk, a subsidiary of Kredivo Group, is a licensed bank regulated by OJK. Krom aims to create Indonesia’s most preferred digital bank by making banking simpler and more convenient for millennials.
Top 4 Digital Banks in the Philippines
Philippines wins with four digital banks in the list, comprising Maya Bank, UnionDigital Bank, UNO Digital Bank, and Overseas Filipino Bank.
Maya Bank
Type: Bank holding company
Total assets: $505 million
Maya Bank, Inc. powers the digital banking experience for Filipinos through the Maya family of products, including the Maya app, Maya Business, and Maya Center. It transforms banking for consumers and MSMEs with innovative financial services for savings, deposits, and credit.
It is the digital banking arm of Voyager Innovations, the Philippines’ technology company. Together with Voyager’s fintech arm, Maya Philippines, it claims to offer the country’s only end-to-end digital financial services platform.
UnionDigital Bank
Type: Domestically owned subsidiary
Total assets: $399 million
UnionDigital’s mission is to serve underbanked individuals, small businesses, and communities in the Philippines by offering financial products and services that are convenient, accessible, reliable, and secure. It uses technology and smart banking to empower communities.
UNO Digital Bank
Type: Bank holding company
Total assets: $123 million
UNO Digital Bank is the first fintech in South East and South Asia to receive a full digital banking license. UNO aims to provide a single digital platform to meet financial needs quickly and easily.
Overseas Filipino Bank
Type: Domestically owned subsidiary
Total assets: $85 million
Overseas Filipino Bank (OFBank), formerly Philippine Postal Savings Bank Inc. (PPSB), is the first government digital-only, branchless bank designed to meet the financial needs of Overseas Filipinos. A wholly-owned subsidiary of Land Bank of the Philippines (LANDBANK), OFBank was established under Executive Order No. 44 signed by President Rodrigo Duterte in September 2017.
Top 3 Digital Banks in South Korea
Three South Korean banks made it to the top digital banks in South Korea list, namely KakaoBank, Toss Bank and K Bank.
KakaoBank
Type: Bank holding company
Total assets: $42,259 million
KakaoBank aims to make interactions between banks and customers simpler and more frequent. With user-focused, innovative technology, it advertises itself as a bank anyone can access at any time in their daily life.
Toss Bank
Type: Bank holding company
Total assets: $19,962 million
Toss Bank serves over 18 million monthly users with 280 services, positioning itself as Korea’s leading financial super app. It offers digital banking with deposit and loan products, a wealth management dashboard, money transfers, a financial marketplace, and more.
K Bank
Type: Bank holding company
Total assets: $16,614 million
K Bank operates an internet banking platform for digital transactions. It offers fund transfers, deposits, loans, credit cards, and wealth management products, providing clients in South Korea with simple virtual banking.
Top 8 Digital Banks in Hong Kong
Similar to Singapore, all eight digital banks in Hong Kong land on the list of top digital banks in Asia, which are Mox Bank, ZA Bank, Fusion Bank, Livi Bank, WeLab Bank, Ping An OneConnect Bank, Airstar Bank and Ant Bank.
Mox Bank
Type: Domestically owned subsidiary
Total assets: $1,840 million
Mox, a digital bank backed by Standard Chartered, HKT, PCCW, and Trip.com, has quickly become one of the world’s fastest-growing digital banks. It aims to be Hong Kong’s top choice for cards, deposits, lending, and wealth management.
ZA Bank
Type: Bank holding company
Total assets: $1,784 million
ZA Bank Limited (“ZA Bank”), licensed by the Hong Kong Monetary Authority (“HKMA”) on 27 March 2019, is one of Hong Kong’s first virtual banks. It officially launched services to the public on 24 March 2020, becoming the city’s first fully operational virtual bank.
Established by ZhongAn Technologies International Group Limited (“ZA International”), ZA Bank uses a “Community-Driven” approach, inviting users to help shape its products and services to better meet the needs of Hong Kong customers.
Fusion Bank
Type: Bank holding company
Total assets: $727 million
Fusion Bank is a licensed virtual bank in Hong Kong, jointly owned by Tencent Holdings, Industrial and Commercial Bank of China (Asia), Hong Kong Exchanges and Clearing, Hillhouse Capital, and Hong Kong entrepreneur Adrian Cheng (through his investment entity, Perfect Ridge Limited).
Livi Bank
Type: Bank holding company
Total assets: $627 million
Livi Bank is dedicated to simplifying and making banking more intuitive. Its mission is to empower customers to save wisely, spend thoughtfully, and live fully, creating a community for individuals who value convenient and user-friendly banking solutions.
WeLab Bank
Type: Bank holding company
Total assets: $482 million
WeLab Bank is powered by WeLab Group, a team with decades of experience in banking, fintech, wealth, and risk management. Backed by top investors like CK Hutchison’s TOM Group, International Finance Corporation, and Sequoia Capital, WeLab Bank is a fully licensed digital bank by the Hong Kong Monetary Authority.
Ping An OneConnect Bank
Type: Foreign owned subsidiary
Total assets: $423 million
PAO Bank Limited (“PAObank”), a subsidiary of Lufax Holding Ltd and part of Ping An Insurance (Group) Company of China, Ltd, is dedicated to promoting financial inclusion and building a digital banking ecosystem. With expertise in SME banking and advanced financial technology,
PAObank received a banking licence from the Hong Kong Monetary Authority in May 2019 to offer digital banking services. It continues to grow across retail and SME banking segments.
Airstar Bank
Type: Bank holding company
Total assets: $298 million
Airstar Bank, licensed by the Hong Kong Monetary Authority, strives to be a “Bank for Everyone,” offering flexible, 24/7 banking services for all.
Ant Bank
Type: Bank holding company
Total assets: $204 million
Ant Bank (Hong Kong) Limited leverages advanced technologies to provide the community with efficient, convenient, and diverse virtual banking services.
Top 3 Digital Banks in Taiwan
Three banks make it to the top of its digital banks list, which are LINE Bank, NEXT Bank and Rakuten,
LINE Bank
Type: Bank holding company
Total assets: $2,380 million
Line Bank is a digital-only bank in Taiwan, offering online banking services through its mobile app. Launched in April 2021, it provides deposits, transfers, debit cards, and personal loans. Major shareholders include Taipei Fubon Bank, China Trust Bank, Taiwan Mobile, Standard Chartered, Far EasTone, and Federal Bank.
NEXT Bank
Type: Bank holding company
Total assets: $1,227 million
Next Bank is a digital-only bank in Taipei, Taiwan, offering various financial services through a mobile app. Launched in January 2022, it is one of three banks to obtain a digital banking license there. Next Bank is a joint venture by six major Taiwanese companies, including Chunghwa Telecom, Mega Bank, Shin Kong Group, Quanlian Industrial, KGI Bank, and Guangmao Network.
Rakuten
Type: Foreign owned subsidiary
Total assets: $1,093 million
In January 2021, Taiwan introduced its first internet-only bank, the Rakuten International Commercial Bank (RICB). This bank is a partnership between Japan’s Rakuten Bank, Rakuten Card, and Taiwan’s IBF Financial Holdings.
Top Digital Bank in Malaysia
Malaysia’s GX Bank makes it to the list as the sole digital bank from the country here in this list of top digital banks in Asia.
GX Bank
Type: Bank holding company
Total assets: $116 million
Malaysia’s first digital bank is committed to transforming the financial industry and helping unserved and underserved communities improve their lives. GX Bank Berhad (formerly A5-DB Operations (M) Berhad) holds a digital bank license from Bank Negara Malaysia
Future Trends in Digital Banking
The “Project mBridge” initiative, a pilot collaboration between the central banks of Hong Kong, UAE, and Thailand, has achieved lowered cross-border CBDC transactions settlement times, settling in several seconds versus traditional systems’ 2-5 days. As of mid-2024, it reached the minimum viable product stage (MVP).
Next, customisable banking moves away from generic white-label interfaces and rigid product bundles, allowing customers to reshape their entire banking experience. It challenges the outdated idea that one-size-fits-all solutions are enough. Banks that fail to offer this flexibility risk losing customers who now expect highly personalised digital experiences.
Finally, green banking integrates ESG (Environmental, Social, and Governance) principles into daily financial decisions. It offers sustainable products, transparent investment processes, and carbon tracking tools, helping customers align their finances with their values.
FAQs (Frequently Asked Questions)
Which country has the best digital banking services in Asia?
Singapore, Hong Kong, and South Korea are often considered leaders in digital banking due to their advanced fintech ecosystems, strong regulations, and highly competitive offerings.
Are digital banks in Asia safe and regulated?
Yes, most digital banks in Asia are regulated by their respective central banks and financial authorities. They may have to adhere to strict cybersecurity measures, including data encryption and multi-factor authentication, to ensure user security. To bank safely, it’s always a good practice to check the country’s central bank website for a list of regulated digital banks, if available.
How do digital banks differ from traditional banks?
Almost all digital banks operate entirely online without physical branches. They offer seamless mobile banking experiences, lower fees, faster transactions, and innovative financial products compared to traditional banks.
Can foreigners open accounts with Asian digital banks?
Some digital banks allow foreigners to open accounts, but requirements may vary.
What are the key benefits of using a digital bank in 2025?
Convenience, lower fees, AI-driven insights, multi-currency support, and seamless mobile banking experiences.
How do I open an account with a digital bank in Asia?
Most banks deploy the same simple method, which is to simply download the bank’s app, verify your identity, and start banking within minutes or after a designated cooling off timeframe.
