People's Own Savings Bank (POSB) is removing a number of manual processes.
In ad listed in The Herald, POSB announced that paperless operation will begin on the 1st of August. With a number of transactions no longer being processed at their branches.
Below are some of the transactions:
Deposits and withdrawals will no longer be made at branches with POSB urging clients to use their cards on POS machines.
Internal transfers, balance enquiries and mini statements are also
getting the scrap with clients to use internet banking, cell banking
(USSD) and POSBs On The Go app alternatively.
RTGS services will no longer be rendered at branches as clients can
internet banking, cell banking (USSD) and POSBs On The Go app
This move could be followed by staff cuts as the number of workers needed at the branches is being minimised by this digitalisation move.