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DBS unveils academy to groom finance talents

SINGAPORE — Companies are key players in creating innovative societies and as Singapore gears up to transition into a smart nation, an upstart culture in large organisations such as DBS’ will not only help them grow faster at home and abroad but will also go a long way in shaping the nation’s future, Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Mr Tharman Shanmugaratnam said today (Dec 10).

Mr Tharman speaks at the launch of DBS’ new 40,000 square feet learning centre called the DBS Academy on Dec 10, 2015. Photo: Robin Choo/TODAY

Mr Tharman speaks at the launch of DBS’ new 40,000 square feet learning centre called the DBS Academy on Dec 10, 2015. Photo: Robin Choo/TODAY

SINGAPORE  Companies are key players in creating innovative societies and as Singapore gears up to transition into a smart nation, an upstart culture in large organisations such as DBS’ will not only help them grow faster at home and abroad but will also go a long way in shaping the nation’s future, Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam said today (Dec 10).

Mr Tharman was speaking at the launch of DBS’ new 40,000 square feet learning centre called the DBS Academy.

The Academy aims to build up a strong talent pool to help shape the future of Singapore’s finance industry, and set a benchmark for innovative learning spaces and approaches in Asia, DBS said.

It will focus on “future-proofing” employees and on equipping them with digital skill sets, as well as encourage them to embrace a digital mindset through experiential learning and experimentation. 

In the future, DBS said, it we will also open up the Academy to ecosystem partners such as SMEs and Social Enterprises, a move that will help equip the workforce here with skills to meet new business challenges and opportunities.

“DBS is taking the right approach through its upstart culture. Using the digital route to penetrate international markets is a clever strategy that the bank is using ... The long-term strategy of treating customers as partners and helping them grow together is an enlightened strategy that is the best way to keep customers,” Mr Shanmugaratnam said.

Amid technological advances that continue to redefine ways businesses are conducted, banks in Asia are facing unprecedented level of competition from financial technology firms, mobile and Internet companies, DBS chairman Peter Seah said at the launch event. 

“Against this backdrop of rapid changes and competition, the need to train and build a strong core of future-ready workers able to help shape the future of the industry in the next 50 years is especially crucial,” Mr Seah said.

To help our people be future ready, Mr Seah said, the bank will launch DBS SkillsFlex, a programme that complements the SkillsFuture movement.

Under its the new programme, DBS will give bank staff S$500 worth of SkillsFlex credits for selected training courses customised for the lender by NTUC LearningHub. This is over and above those offered by the SkillsFuture Credit course directory.

Having played a pivotal role in shaping Singapore’s economic landscape and fuelled the country’s industrialisation efforts, DBS, Mr Seah noted, will continue to play a key role in championing and consolidating Singapore's position as the leading financial hub in Asia.

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