(5 April 2018 – Singapore) DBS Bank has committed to helping its corporate clients reduce their reliance on cheque payments by 30 percent from current levels within the next two years.
Raof Latiff, head of digital at DBS’s Institutional Banking Group said that the bank has seen a fivefold increase in corporate clients requesting digital payment solutions to be embedded into their payments processes.
“Consumer behaviour is changing so quickly and businesses find themselves having to stay abreast of changing payment demands.
“The ubiquity of the mobile phone means that cheque payments will soon be a thing of the past and forward-looking companies are reworking their business processes to stay relevant, save time and serve their customers better,” Mr Latiff said.