#CNA Money Talks Explains: What are the risks of putting money in digital financial platforms?

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Money Talks Explains: What are the risks of putting money in digital financial platforms?
In early March, financial services firm Chocolate Finance announced it had suspended instant withdrawals, causing concern among customers. This raised questions about the safety of digital banks and investment platforms.

Avishek Nandy from Bain & Company gives Andrea Heng a quick lay of the land in this week’s Money Talks Explains.

0:00 Intro 01:41 How digital banks differ from traditional banks 02:28 Investment platforms lack deposit insurance 03:46 What SDIC coverage really means 05:00 Why MAS licensing matters 06:11 Risk vs return on fintech platforms 07:20 Liquidity guarantees in digital banks 08:34 Why instant withdrawals can fail 09:38 No guarantees on investment outcomes 12:32 Diversify funds across platforms wisely

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