Tay Ah Lek saw a 6.5% rise in total remuneration to $9.2 million in 2020 despite the pandemic, which was 250 times the average pay Public Bank’s employees received.

Robotics, enabled by artificial intelligence and machine learning, is proving to be a game changer that can bring unique operational efficiencies to the financial services industry.

Credit card issuance and usage wane as digital and mobile payments increase in popularity.

Competition is forcing banks to improve the digital experience of their customers. Banks are focused on investing in mobile technologies, data analytics, security and cloud computing.