On The Ground

Banks must focus on reliability to retain confidence as they digitalise

Gone are the days when a bank was merely a place to park one's savings. In today's digital world, banks are increasingly offering a plethora of services, from cashless payments to insurance and investment schemes.

The push for digitalisation and expansion of services is certainly welcome, but while financial institutions vie to build the next super app, disruptions like the one that hit DBS Bank this week may make users more wary of relying too heavily on a single bank.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month
  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

A version of this article appeared in the print edition of The Straits Times on November 26, 2021, with the headline 'Banks must focus on reliability to retain confidence as they digitalise'. Subscribe