ANEXT Bank was awarded the best digital bank in Singapore

ANEXT Bank has been named the Best Digital Bank in Singapore by The Asian Banker in its 2025 ranking of the world’s top digital banks. The recognition highlights the bank’s commitment to financial innovation, accessibility and support for micro, small and medium enterprises (MSMEs), both locally and internationally.

Since its launch in June 2022, ANEXT Bank has positioned itself as a go-to digital banking partner for MSMEs in Singapore and foreign entrepreneurs looking to expand into the region. As of December 31, 2024, the bank’s customer base included business owners from 79 nationalities, with more than 70% classified as micro businesses. Nearly 39% of its customers are women-owned businesses, and over 37% began their banking journey with the bank during their startup phase.

A key factor in the bank’s appeal is its fully digital and user-friendly approach to business banking. It was the first in Singapore to introduce remote onboarding, allowing foreign business owners to open accounts without physically visiting the country. This feature significantly reduces barriers for entrepreneurs, particularly those looking to incorporate a company in Singapore while residing abroad. The bank also offers cross-border payment services, multi-currency accounts and embedded finance solutions that integrate directly into digital platforms, ensuring seamless financial management for businesses operating globally.

The bank leverages AI and data analytics to enhance operational efficiency, streamline risk management and offer tailored financial products. Its embedded finance solutions have been widely adopted across e-commerce, procurement, delivery and payment platforms, granting MSMEs greater access to essential banking services. By collaborating with these digital platforms, ANEXT Bank has enabled financing solutions for more than one million regional businesses.

The Asian Banker also highlighted its rapid customer growth and strong adoption of digital banking features. The bank’s low-barrier loans, multi-currency capabilities and seamless digital experience make it a strong choice for SMEs navigating Singapore’s financial landscape. The award also underscores the bank’s ability to integrate financial services into business operations, making banking more efficient and accessible for growing enterprises.

Toh Su Mei, CEO of ANEXT Bank, expressed pride in the recognition, emphasizing the bank’s dedication to leveraging technology to transform financial services for MSMEs. She noted that the bank is just beginning its journey to become the top digital banking partner for small businesses worldwide. Under her leadership, the bank has built an advanced technology infrastructure with modular APIs, KYB verification systems and biometric eKYC to ensure global scalability and security for its customers.

ANEXT Bank is a subsidiary of Ant International and operates under the Monetary Authority of Singapore (MAS) regulation. The bank has received multiple awards, including being named one of the “World’s Top FinTech Companies of 2024” by CNBC and Statista, winning the “SBR Technology Excellence Awards 2024” in the Fintech-Banking category and securing the “SME Partnership Initiative of the Year 2024” by Asian Banking & Finance Wholesale Banking Awards.

Last month, ANEXT Bank announced a leadership transition, with Kai Qiu appointed CEO Designate. From March 31, 2025, Toh Su Mei will step down as CEO and transition into an honorary advisory role at Ant International, recognizing her contributions to the company and its growth.