Anext Bank, a digital wholesale bank in Singapore and a subsidiary of Ant International, has been recognized as the “best digital bank” in Singapore by The Asian Banker in its 2025 ranking of global digital banks.
Since its launch in June 2022, Anext Bank has focused on serving micro, small, and medium enterprises (MSMEs) in Singapore while supporting international businesses expanding into the country. As of December 31, 2024, its customer base spanned 79 nationalities, with more than 70% classified as micro businesses. Nearly 39% of these businesses were said to be women-owned, and over 37% reportedly began their banking journey with Anext Bank during their startup phase.
The bank has introduced remote onboarding, allowing foreign business owners to open accounts without visiting Singapore. It also provides cross-border payment services, multi-currency accounts, and embedded finance solutions integrated into digital platforms. These offerings are designed to lower entry barriers for MSMEs and improve access to financial services.
“We firmly believe in leveraging technology to continuously innovate and reimagine financial services for MSMEs. This includes using artificial intelligence and data to uplift operation efficiency and customer experience, with cutting-edge solutions from digital credit to risk management,” said Toh Su Mei, CEO of Anext Bank. “As a Singapore-born digital bank, we are also proud to have been a pioneering digital wholesale bank contributing to the advancement of fintech, and supporting the digitalization and internationalization of businesses in the country.”
Last month, Anext Bank appointed Kai Qiu as CEO-designate. Effective March 31, Toh will step down as CEO and transition into an honorary advisory role at Ant International, acknowledging her contributions to the company.