A cornerstone of Singapore banks' digital transformation is the use of AI to enhance customer experience

IT'S NO secret that Singapore prides itself on being an early adopter of sophisticated technology to drive its global competitiveness. Its banking sector is a prime example, and is today by far the most advanced in the region in its use of new technology - offering mobile banking and the latest fintech solutions for both corporate and individual customers.

However, the industry is poised for further technological disruption in the coming years, as highlighted by Prime Minister Lee Hsien Loong during the recent May Day Rally. Our research indicates that 2018 is the year of intelligent connections, applying the latest technological developments to improve human and machine connections. Singapore banks will need to fully adopt digitalisation if they are to further cement their position on the regional and world stage. A solid cornerstone of digital transformation is to use artificial intelligence (AI) to improve and enhance the customer experience.

The future of customer experience