Singaporean Businesses Emphasize Importance of Human Touch in Corporate Banking

HSBC's recent research highlights that 89% of Singaporean firms, particularly in corporate banking, prioritize the 'human touch' in their operations. In-person interactions are deemed crucial for identifying opportunities, receiving specialized financial advice, expanding international endeavors, and mitigating risks.

Business executives in Singapore demonstrate commitment to interpersonal relationships by investing in staff development, with 83% exploring how new technologies can enhance employee capabilities. Additionally, 82% plan to retrain current employees, and 81% aim to hire new personnel to keep pace with technological advancements.

Singaporean executives show readiness for new technologies, with 84% confident in incorporating them into business strategies over the next decade. Cybersecurity is seen as the most promising technology, followed closely by accounting automation software and generative artificial intelligence, highlighting the potential economic opportunities they offer.

While acknowledging the efficiency gains of technology, the significance of the 'human touch' remains paramount, as interpersonal connections continue to play a vital role in business success.