If history is any indication, the response to the most recent disruption will follow a three-track pattern: Customers will gripe about the inconvenience and question whether Singapore could go digital, banks may be forced to review their administrative procedures and system resilience, and the authorities may slap the violators with additional requirements and demand that they perform better.
Everything you’ve said is entirely reasonable and comprehensible.
Without a doubt, the banks — all of them, not just the two parties — will benefit from this. They should double down on duplication systems, increase their situation planning, and develop in better public relations and client recovery.
It is impossible to predict when another interruption may occur. No technological method is perfect, upon both.
A BETTER Digital Culture IS MISSING A LINK?
This will be viewed as a significant learning opportunity from sage social strategy to being digital. However, I wonder if society, including you and I, sees ourselves as a part of the entire digitalization process rather than just consumers. This would be the missing piece of information that would make the digital system function better. & nbsp,
Singapore has made great strides toward becoming a digital society. The nationwide campaign to reduce cash transactions began in 1985, even though the popularity of digital banking and digital transactions has only definitely increased recently.
In a statement delivered on March 14, 1985, Lee Yock Suan, the acting secretary for Labour, stated that the widespread adoption of electronic fund transfer systems and the popularity of digital transactions may show in’ a new period of comfort and convenience’ in banking and cash management services. ” We can anticipate the day when we can shop, pay our bills, check our bank accounts, and transfer money between accounts all from the comfort of our homes ,” said & nbsp.