Bank of the Future
Secret Sauce for the Banking Industry
Secret Sauce for the Banking Industry
According to Singapore’s largest bank DBS, the volume of cash deposits and withdrawals fell by an unprecedented 11% in the first 3 months of 2020, a 6% fall from where the figure had been since 2017. Coupled with extraordinary growth in the adoption of e-payments, it’s safe to say that COVID-19 has altered consumer behaviour—and fast.
The bank of the future: How to embrace AI and analytics
Banks must invest in transforming capabilities across all four layers of the integrated capability stack, says McKinsey & Co.
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1. Hang Seng unveils MTR Jordan Station Retail Banking Centre 2. HSBC, Allianz Life launch wealth growth and life protection plan in Malaysia 3. OCBC, Ant Int’t to deliver embedded financial services to Indonesian SMEs 4. Citi nabs BofA banker to lead Chinese banking operations 5. Visa launches AI-powered commerce initiativeResource Center
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
Commentary
Young Malaysians, big money mistakes: What’s going wrong with Islamic financial behaviour?