Synopsis: Updated fortnightly on Mondays, The Business Times breaks down useful financial tips.

In this week's episode, we look at how Singaporean consumers, as well as small and medium-sized enterprises (SMEs) and micro enterprises, can benefit from digital banking services.

BT's digital editor Chris Lim hosts Mr Hari Sivan, chief executive and founder of SoCash, a fintech that allows cash withdrawals from shops instead of ATMs. They discuss the following:

1. What is digital banking (0:45)

2. How digital banking helps the average consumer when it comes to more choices, and cheaper and transparent costs (1:30)

3. Steps a Singaporean consumer can take to benefit from digital banking services in 2021 and beyond (4:03)

4. Steps that SMEs or micro enterprises can take to benefit from and prepare for digital banking services in 2021 and beyond (6:33)

Produced by: Chris Lim and Ernest Luis

Edited by: Adam Azlee

Subscribe to BT Money Hacks Podcast series for our new episodes fortnightly on Mondays and rate us on your favourite audio apps:

Channel: http://bt.sg/btmoneyhacks

Apple Podcasts: http://bt.sg/oeXe

Spotify: http://bt.sg/oeGN

Google podcasts: http://bt.sg/oeGP

Website: http://bt.sg/moneyhacks

Feedback to: podcast@sph.com.sg

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.