IBM launches "bank of the future" at Singapore HQ

Singapore (Antara News) - Technology giant IBM has launched a "bank of the future" centre in Singapore, the first in Southeast Asia showcasing the latest technology to customers, the company said Saturday.

The 250-million-US-dollar full-size mockup of a bank branch is meant to help banking executives get an idea of how the technology will look.

Innovations include a smart surveillance system that can monitor how long customers spend in different parts of the branch or hovering over product displays, Swarup Choudhury, IBM financial services sector director for ASEAN and South Asia, DPA reported citing The Business Times.

The Association of South-East Asian Nations (ASEAN) includes Singapore, Thailand, the Philippines, Malaysia, Brunei, Indonesia, Myanmar, Laos, Cambodia and Brunei.

Local banks have already shown "keen interest" in some of the newer technologies such as the use of radio-frequency tags on automatic-teller machine (ATM) cards to identify customers and alert staff as they walk into a branch.

IBM has set up similar centres in the United States, China and Europe.

Other equipment on display includes fully integrated ATM machines that take deposits and recycle the cash for dispensing, and two-factor authentication devices that recognize users through the veins in their fingers. (*)
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