Help young singles who move out of parents' home to buy flat

Any improvements to the process that single unwed parents have to go through for their housing needs will be welcomed and appreciated (HDB to review how it interacts with single unwed parents, Sept 3).

The Housing Board should also look into helping singles whose parents can no longer house them - having downsized to a smaller flat or studio apartment in order to unlock their retirement savings - to access public housing. 바카라

This will greatly ease the singles' financial burden as it is costly to rent from the open market before they turn 35 years old, which is when they are eligible to buy public housing. Some may live with friends but others may have no alternative but to spend a large portion of their pay on rent.

Public housing policies have served us well for a long time and generations of Singaporeans have benefited.

But as the family unit and the needs of individuals within families change over time, more may need to be done to ensure that all who need public housing will have access to it.

It is exciting to read about how we can expect to see the first digital banks operating in Singapore by mid-2021 (New digital banks likely to value-add, say observers; MAS spells out criteria for new digital bank licences, both on Aug 30).

This will undoubtedly improve Singapore's ranking on the financial inclusiveness index, and has been a long time coming considering that countries like Australia have already moved beyond digital banks to "neobanks", which are 100 per cent digital and completely driven by artificial intelligence.

A major challenge for digital banks to value-add has been the customer experience conundrum.

Digital banks are all about their online functions and the provision of a great app experience.

But no matter how robust, great apps remain a poor substitute for the reliability of delightful in-branch customer service. The demand for personal interactions in banking matters remains high. In Asia, especially, banking customers still seek personal advice via face-to-face meetings before they "seal the deal" on banking products.

Research on digital banks and customer satisfaction has shown that passive customers outnumber promoters.

Promoters are customers who have positive takeaways from the digital banking experience - they are more likely to consistently patronise the bank, and to refer it to others. Passive customers are those who are indifferent.

Another challenge is the dichotomy between what digital banks assume to know about customer proficiency and experience with its apps, and what customers actually know and experience.

Bridging this dichotomy will be key to unlocking even greater value for customers of digital banks. 인터넷카지노

There are many considerations when digital banks try to step up the quality of service they try to provide customers.

One thing is sure: Given Singapore's robust regulatory regime and infrastructure to support advanced technology, there is little doubt that Singapore's digital banks will deliver.