Singapore banking sector adapts to AI, digitalisation in 2026

AI adoption, talent demand, and digital skills shape banking 2026.

The city-state’s banking and financial services sector enters the new year adapting to a digitally transformed landscape, where artificial intelligence (AI), hybrid skills, and talent scarcity are expected to define the competitive edge, according to industry insights from Randstad.

Digital and AI integration enhances efficiency, allowing employees to move beyond existing tasks and take on higher-value, strategic responsibilities.

The adoption of Generative AI (GenAI) in the financial sector is forecast to deliver an additional $330b to $550b globally in annual value, with approximately 80% generated from Sales and Marketing, Customer Operations, Risk Management, and Engineering and Technology.

Financial institutions are also adapting to the expanding digital ecosystem, as cybersecurity, risk management, and regulatory compliance require deeper specialisation.

Front-office roles, including Relationship Managers (RMs), Wealth Planners, and Private Bankers, remain essential for trust-building, client engagement, and high-touch advisory services, with AI designed to assist rather than replace human capabilities.

Demand for talent skilled in AML, credit risk, and operations is expected to continue in 2026 due to digitalisation and the broader adoption of technology.

Core competencies in demand include digital and analytical proficiency, as well as strategic business acumen, as employees are expected to work effectively alongside AI while retaining essential business skills.

The talent market continues to prioritise work-life balance, remuneration, career progression, and financial stability.

Employers play a significant role in actively sharing career pathways that demonstrate long-term growth opportunities to talent.

By prioritising hybrid skills and recognising evolving talent expectations, employers in the banking and financial services industry will be investing in building a resilient, agile, and digital-first workforce, ready to capture the full economic potential.