Date: For Parliament Sitting on 9 September 2024

Name and Constituency of Member of Parliament

Mr Christopher de Souza, MP, Holland-Bukit Timah GRC

Question:

To ask the Prime Minister and Minister for Finance whether banks can be mandated to maintain more manpower at bank branches amid a broader shift towards digital banking so as to reduce queue time at bank branches and to reduce the impact on seniors who are not technologically savvy.

Answer by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS:

1. Banks have taken steps to ensure that customers who are less technologically savvy continue to be well-supported amid a broader shift towards digital banking. Examples include deploying digital ambassadors at their branches to guide customers to perform transactions via digital channels, and working with community partners to organise digital literacy programmes to help elderly customers acquire digital skills and bolster digital inclusion. Branch and phone banking also remain available to customers who prefer to bank via non-digital channels.

2. Banks monitor and manage queue time at bank branches. Examples of measures implemented by banks include mobile queue ticketing services that allow customers to be informed of the queue situation before visiting the branch and to apply for a queue ticket digitally, and designated queues or priority assistance for elderly customers. They have also increased their manpower to manage surges at branches during peak periods.

3. MAS will, through our supervisory engagements with banks, check that they have given adequate management attention to managing customer service and queues at bank branches, including increasing manpower where necessary.

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