Digital banking transactions soar amid restrictions on movements

Singapore

WITH the wide curbs on movement and the push to work from home amid the Covid-19 pandemic, more consumers here are turning to digital banking.

Singapore's largest bank has numbers to show for this. Over the first three months of this year, DBS saw a S$8 billion increase in value of transactions conducted digitally, compared to the same period last year. The bank now expects one million of its customers to go "fully digital" by the end of 2020 - rolling forward an initial projection by a year.