Understand the security measures digital banks in Singapore use and what customers can do to protect their accounts.



Security is one of the biggest concerns for anyone considering a fully online bank. Fortunately, Singapore’s digital banks operate under strict MAS regulations and deploy a multi-layered security approach.

Common safeguards include two-factor authentication (2FA), biometric logins (face or fingerprint recognition), and transaction alerts sent instantly via push notifications. Many also monitor accounts with AI-driven fraud detection systems, which flag unusual spending patterns in real time.

But security is a shared responsibility. Users should:

  1. Keep their devices updated and free of malware.
  2. Avoid using public Wi-Fi for banking transactions.
  3. Use unique, complex passwords and change them periodically.
  4. Enable all available security features, including SMS/email alerts.

In the rare event of a breach, MAS regulations require banks to notify customers promptly and offer clear remediation steps. With robust technology and consumer vigilance, digital banking can be as safe—if not safer—than traditional branch-based banking.

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Sophia Tan

About the Author

Helen Lili – Editor, Research Lead
Helen leads tariff analysis and product change tracking. She maintains the normalized dataset that powers our comparison tables and ensures each claim links back to a dated primary source. Read more articles

Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.