its just months later Ahead of the unveiling of the big Digibank, fully digital banks Grab-Singtel and Sea are clearly ramping up the hiring process.
A look at their career websites revealed at least 90 job openings located in Singapore.
Grab-Singtel and Sea were given full digital banking management by the Central Bank of Singapore last year.
Grab-Singtel said in December last year that it would form a dedicated team and fill about 200 positions by the end of this year. It said it would leverage data and technology to redefine how financial services are delivered.
The consortium also said that its digital bank aims to support SMEs and SME workers to access transparent and convenient financial services for their daily activities.
As for Sea, it said it wanted to meet the financial needs of young consumers and small and medium-sized businesses to drive the digital economy.
Full digital banks are banks that operate entirely online without any single physical infrastructure, such as a bank branch. They are allowed to take deposits from clients.
We take a look at Digibank’s job offers at Grab-Singtel and Sea and how they differ from traditional banks.
At least 20 engineer jobs currently available
There are at least 11 engineer roles such as Master Data, Principal Software Engineers, and Senior Network and Security Engineers at Grab-Singtel’s Employment site.
For example, a software engineer for the iOS platform has to work closely with teams — in the product, UX/UI, and background departments — to design, build, and expand new consumer-facing products and features.
A software engineer also has to constantly monitor and improve the performance of live applications.
At sea, there are at least 10 digital bank engineering jobs.
This includes the roles of Systems Operations Engineer, Network Engineer, and Security Engineer. It also employs IT roles for operations and services. The link to the job site is Here.
With digital banks hiring an army of engineers to boost their online platforms, banking websites are expected to be digitally efficient, with smooth operations and a quick fix rate for bugs or issues.
Banking applications are also expected to be present on the Android and iOS platforms. This means that customers will be able to fulfill most of their banking needs from their smartphone.
Many data analytics and research roles
Grab-Singtel also employs no fewer than five data-related roles for its Digibank.
a Data Scientist Role At Grab-Singtel he will get predictive models using a combination of machine learning and traditional analysis methods. It can also validate models on new data sets, based on performance in the market.
Grab is also ramping up research and analyst roles, such as Risk Analysts.
Data is an important asset for digital banks because data ensures automated customer onboarding processes. It also reduces the need for additional tap steps or customer input when banking from their mobile phone.
By harnessing the data and insights provided, digital banks can provide fast operations. For example, improving the time required to process background decisions and issue loans and payments to customers and small and medium businesses.
Multiple roles in the background, from loan/credit operations to settlements
There are at least 10 background roles for Grab-Singtel.
For Sea, there are currently no background banking opportunities.
Roles of people such as HR manager, services and payroll
This means that digital bank Grab-Singtel is likely to operate with its own in-house human resources and legal support.
Roles of presidents and general manager
Leadership roles are also available.
There is, too Vice President of Anti-Money Laundering (AML) that will be tasked with identifying, analyzing and interpreting trends or patterns in complex data sets to create improved effectiveness of anti-money laundering policies and processes.
New digital banks offer more job opportunities and financing options
Grab-Singtel said the consortium will create more opportunities for Singaporeans to take on technology and fintech-related roles, and will train and equip them with the required skill sets in cyber and information security, data science and analytics as well as technology. engineering.
The consortium also said that the digital bank is a natural extension of the Grab Financial Group as well as Singtel’s mobile financial business, with the goal of enabling broader access to financial services.
As for Sea, the group said it is already deeply integrated into Singapore’s digital economy through its three platforms Shopee, Garena and SeaMoney. Its digital bank will draw on insights into the needs of these users from across the sea’s digital ecosystem to innovate processes, products, and services.
Both digital banks are set to offer financial services across payments, insurance, lending and investment, and are expected to be officially launched in early 2022.
From July 1, 2021, premium Vulcan Post articles will be hidden behind a firewall. Subscribers will be able to enjoy exclusive articles with a deeper level of coverage and insight into sectors that include government technology, electric vehicles, cryptocurrency, and e-commerce. You can check out our featured articles Here Subscribe to us Here.
Featured photo credit: Vulcan Post