POSB Bank says it will this year focus on digital transformation to grow non-funded income.
The mass-market lender commenced a digital transformation project three years ago, which it says has seen the reconfiguration of its mobile banking processes.
The bank has also incorporated new billers and widened its international money transfer services, increased US$ products and listed onto the Zeepay bulk payment network.
In an interview this week, POSB chief executive Garainashe Changunda said the bank would this year prioritise the provision of novel digital products.
For the year ended December 31, 2022, the bank recorded a net profit of $4,24 billion in historical terms compared to a net profit of $889 million in the prior year.
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