Ensuring Manned Service Counters at Banks for Less Tech-savvy Seniors' Banking Needs

1 Mr Yip Hon Weng asked the Prime Minister and Minister for Finance (a) whether the Ministry monitors the ratio of manned bank front counters to senior residents across different areas in Singapore; (b) if so, what is this ratio; and (c) whether the Ministry will consider mandating banks to maintain a minimum ratio of manned counters to enable less tech-savvy seniors to conduct their banking needs.

Mr Gan Kim Yong (for the Prime Minister): Bank branches serve as important service touchpoints for customers, especially seniors who may not be familiar with digital platforms. While the Monetary Authority of Singapore (MAS) does not collect data on the number of manned counters, we do track the number of bank branches and their locations. MAS engages banks and emphasises to them the importance of providing adequate support to seniors, including through adequate coverage of branches. When planning branch operations, banks do consider demographic factors such as the elderly population in the area and have established dedicated queues or priority assistance for seniors where needed.

Banks also work with community partners to organise digital literacy programmes to help seniors acquire digital skills and bolster digital inclusion. At branches, they deploy Digital Ambassadors who are proficient in mother tongue languages or dialects to assist seniors with their banking needs.