Banks in Singapore have adapted their operations quickly over the past year to cope with the COVID-19 outbreak. However, the longer term impact of the pandemic on social behaviours and workplace norms is not yet fully known and understood, Samuel Tsien, chairman, ABS and Group CEO of OCBC Bank, said in a statement on the report.
The report said it foresees FIs embracing remote working as part of their culture and tapping into different areas outside the CBD for workplace options near home. The real estate strategy of an FI will also explore more of the shared options available outside the CBD while maintaining their headquarters’ presence for both branding and community engagement.
Finally, digital banking and fintech will also play a significant role in shaping the future as banks move from the traditional transaction-based approach towards more of an experience-based model to attract and retain both customers and potential employees.
The above article originally appeared in finews.asia.
The Study on Future Workplaces is a multi-disciplinary study by:
- ABS ROOT Workstream 4 (comprising members Bank of China Limited, Singapore Branch; Barclays Bank PLC, Singapore Branch; Citibank Singapore Limited; DBS Bank Limited; HSBC Bank (Singapore) Limited; Maybank Singapore Limited; Network for Electronic Transfers (Singapore) Pte Ltd; Oversea-Chinese Banking Corporation Limited; Standard Chartered Bank (Singapore) Limited and United Overseas Bank Limited);
- the Cushman & Wakefield-led consulting consortium (comprising Cushman & Wakefield; Cistri; Hassell; Arup and The Working Capitol); and
the following expert panellists: Mr. Ang Kian Seng (Group Director of Environmental Sustainability Group, Building and Construction Authority); Er. Go Eng Huat (Senior Consultant, Workplace Safety and Health Council); Prof. Lam Khee Poh (Dean of School of Design and Environment, National University of Singapore); Adj. Asst Prof. Kalisvar Marimuthu (Senior Consultant, National Centre for Infectious Diseases); Prof. Tan Chorh Chuan, Chief Health Scientist and Executive Director of Office for Healthcare Transformation, Ministry of Health).