To strengthen the digital capabilities of its employees, United Overseas Bank (UOB) of Singapore has launched the first phase of Professional Conversion Programme (PCP). The training will be offered over the next three to 12 months.
In the first phase, about 900 employees of the bank, including service associates to assistant branch managers, will undergo the training programme to deepen their digital skills in areas such as design thinking, customer journey design, channel management, and scenario analysis and planning.
Each course will be conducted through classroom learning, workshops and on-the-job training over the next year.
The programme will also cover areas like digital marketing, social media engagement and data analytics, as well as growth areas such as risk management and wealth management.
Jenny Wong, Head of Group Human Resources, UOB, said, “The PCP complements our group-wide suite of training programmes aimed at deepening the digital capabilities and expertise of our colleagues.
She added, “Given the influence of technology in shaping the lives and preferences of our customers, we must ensure our people are equipped with the relevant skillsets and agile mindsets for the future.”
The training of United Overseas Bank employees has come after the launch of a road map to transform the financial services industry on October 30. During the launch of the map, Ong Ye Kung, board member of the Monetary Authority of Singapore (MAS) and Minister for Education (Higher Education and Skills) had urged banks to help ensure workers stay relevant and to retrain those whose jobs have been affected by technological disruptions, instead of turning to retrenchments.
For training of its employees, UOB will receive partial funding from Workforce Singapore for the programme, while the remainder of the re-skilling costs will be borne by the bank.
The PCP was jointly developed by MAS, Workforce Singapore and the Institute of Banking and Finance. It is part of Workforce Singapore’s Adapt and Grow initiative to support mid-career professionals, managers, executives and technicians amid the nation’s digitalisation push.
Tan Choon Shian, Chief Executive of WSG, said, “We are encouraged that UOB and other local banks are investing strongly in continuous training and upgrading of staff to enable them to be relevant and take on higher value jobs.”