DBS Bank has announced that it is investing £11.4 million over five years in a programme to skill its 10,000 Singapore-based employees in digital banking and emerging technologies.

The move is designed to enable the bank’s employees to thrive in the digital economy and adapt to the future of work.

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

The initiative aims to encourage large-scale participation and digital adoption by all bank employees, and comprises several aspects:

• Artificial intelligence-powered e-learning, which can be accessed 24/7

• Experiential learning, such as entrepreneur programmes and hackathons

• Grants and scholarships

• Innovative learning spaces

Lee Yan Hong, group head of human resources at DBS Bank, said: “As the financial sector evolves, the profile of jobs will change and we are committed to helping our people adapt and embrace digital transformation through innovative and immersive continuous 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.”

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