Singapore banks must harness potential of digital services
Add BT as a preferred sourceNO matter what the actual question shareholders are asking banks these days, the crux of what they are invariably getting at is simple. How do you plan on increasing revenue?
Many Singapore bankers and corporate leaders will be discussing ideas in banking innovation and digitisation at Sibos, an annual financial industry conference, being held in Singapore from October 12 to 15 this year. This is a testament of Singapore's interest in banking infrastructure and innovation.
The solution for Singapore's retail and commercial banks is to improve efficiency and effectiveness, streamlining costs and delivering more. It is vital for banks to exploit the business potential of digital and to innovate at a faster pace, but most banks are hampered by their legacy systems. That means many will need to invest now to reap benefits down the pike.
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