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TODAY MONDAY 14 APRIL 2014

BANKING mADE EASY

Innovating for better service

More choices, greater convenience
New banking transaction methods offer customers a wider variety of touchpoints.
BANK BRANCHES SELF-SERVICE MACHINES MOBILE AND oNliNe BANKING

BANK

ATM ATM

CASH-DEPOSIT MACHINE

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Pre-80s 80smid 90s Now

GRAphic: ONg Ze TeNg

POSB delivers convenience and accessibility to its customers through constant innovation
It wasnt that long ago that doing your banking involved going to the nearest branch to perform simple transactions like making a deposit or transferring funds. But the rapid pace of innovation in the banking sector over the last two decades has created greater convenience for customers. Banks like POSB for instance, offer their customers a wider variety of touchpoints beyond bank branches.
MoRE ChoICE, moRE VARIETY

Self-service machines like ATMs and cash-deposit machines are now a common sight and let customers perform a range of transactions without visiting a branch. POSB has also forged a number of strategic tie-ups that provide customers with greater accessibility. The bank has partnered organisations such as SingPost to offer customers basic banking transactions, such as cash deposits and withdrawals, at any post office in Singapore. Last year, the bank partnered convenience store chain 7-Eleven to allow customers to make cash withdrawals at more than 470 7-Eleven stores island-wide. Known as POSB Cash-Point, the initiative offers customers greater

convenience by expanding the banks network to over 2,000 physical touchpoints in Singapore. P O SB cu st omers who m a ke purchases at 7-Eleven stores can also withdraw up to S$80 cash (excluding stores located at Changi Airport and Shell stations) using a POSB debit or credit card linked to a savings account. Customers who prefer visiting a branch can benefit from POSBs mBanking app to plan their trip for when the branch is less crowded. Its latest feature, POSB Q CAM, lets customers view the length of the queue at POSB branches to choose the branch with the shortest queue. POSB has also recently introduced an innovative service called FAST* (Fast and Secure Transfer). Available via online and mobile banking, this service lets you send and receive SGD funds almost instantly between banks in Singapore, up to a maximum of S$10,000 per transaction.
BANKING IN ThE pALm oF YoUR hANd

INTERNET BANKING SERVICES

Enjoy greater convenience and accessibility by banking online with POSB. These are some key services and benets: Instant account opening and debit/credit card application Pay Visa or MasterCard bills even if your card is with another Singapore bank Transfer funds online to an overseas account or Visa card issued overseas Enjoy preferential rates when you perform certain transactions online such as free cashiers orders, no charge on issuing standing orders and a handling commission of S$5 on remittances of S$5,000 and below

POSB Q CAM lets customers view the length of the queue at POSB branches.

Perhaps the single biggest innovation to date has been the advent of the Internet and online banking. POSB introduced online banking in 1997. iBanking users can enjoy a series of online services such as managing accounts, transferring funds and paying bills online. The platform also allows users to apply for credit and debit cards, place local and foreign currency xed deposits and even make online investments, such as buying Singapore Government Securities. POSBs mBanking app caters to the

growing popularity of mobile devices. Apart from managing accounts and paying bills, the mBanking app, which is compatible with a wide range of mobile operating systems, uses GPS (global positioning system) functionality to offer location-based services. Switch on your devices GPS function and the app will point you to the nearest ATM and branch. Said Mr Derrick Goh, Head of POSB: The Internet transformed the banking industry it was one of the key elements in making banking truly personal and accessible.
CUSTomER CoNVENIENCE

their lifestyle. For instance, if you work late and dont have time to visit a branch, online and mobile banking platforms give you the exibility to conduct banking activities anytime you want.
BANKING TRANSFoRmEd

POSB has taken full advantage of new, proven technologies to make banking more efficient and convenient for its customers, who can now plan their banking transactions to suit

Customer service has always been a top priority for POSB, and we will continue to strive to serve our customers better.
Derrick Goh
HeAD oF POSB

Technology has indeed transformed the way we interact with our banks. POSB has been at the forefront of this change, aiming to serve its customers better by leveraging on technology to provide its customers accessibility anytime, anywhere. Said Mr Goh: Customer service has always been a top priority for POSB, and we will continue to strive to serve our customers better.
T his is t h e 17t h s tor y in a 1 9 - pa r t collaboration between TODAY and POSB.

* FAST is available at participating banks including POSB.