DBS to Make S$20M Investment Over 5 Years for Workforce Digital Transformation

August 22, 201711:08 am665 views

Singapore major bank, DBS is making big investment worth S$20 million over five years in a bid to groom its 10,000 Singapore-based employees to embrace new technologies. This move is said to be an effort to help push ahead Singapore’s Smart Nation’s vision, Business Times reports.

An official statement released by DBS on Monday (Aug 21) said that the financial sector is an integral part of Singapore’s ambition to transform into a Smart Nation.

“DBS’s programme supports the Monetary Authority of Singapore’s vision to create a Smart Financial Centre where technology is used pervasively in the financial industry to increase efficiency, create opportunities, better manage risks, and improve lives,” DBS said.

See: “Embracing Change is the First Step to Digital Transformation”: Q&A with Grace Yip from DBS Bank

Group head of human resources at DBS Bank Mr. Lee Yan Hong said that the profile of jobs would evolve along with the advances of technology. In order to stay current and relevant, the sector and the bank will need to help its staff embrace digital transformation through continual learning programmes.

“An agile and innovative workforce will also make Singapore’s Smart Nation ambition a reality and along with this, we are making significant investments to groom a generation of digital bankers, strengthening Singapore’s talent pool,” he added.

According to the source, DBS’s programme focuses on a 24/7 artificial intelligence-powered e-learning; experiential learning, such as intrapreneur programmes and hackathons; grants and scholarships, as well as innovative learning spaces.

Read also: MAS Streamlines Framework for Banks Conducting Non-Financial Business

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