Shaping the future of banking

Banking on technology for good

Financial services sector must ensure tech adoption benefits all segments of society

The writer Sanjoy Sen is the group head of consumer franchise and distribution at DBS Bank. PHOTO: DBS BANK
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We are in the midst of a digital boom. Consumers have rapidly moved to online or mobile channels, with the Covid-19 pandemic speeding this shift. Companies have doubled down on their digital transformations to better interact with the newly minted digeratis.

A record number of digital banking transactions are taking place in the banking and financial services sector, even among senior citizens. Every swipe on a mobile device or click of the mouse builds up data that organisations can distil.

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A version of this article appeared in the print edition of The Straits Times on November 30, 2020, with the headline Banking on technology for good. Subscribe