SINGAPORE (Nov 12): Digitalisation is quietly transforming Sumitomo Mitsui Banking Corp, the core of SMBC Group. Listed as one of the global systemically important banks (G-SIBs), SMBC is also one of the leading banks in Japan and has an increasing presence in Asia — where it has network offices established in 14 countries and regions today. In Indonesia, SMBC owns about 40% of PT Bank Tabungan Pensiunan Nasional as at August 2018, and the two are in the process of merging their businesses. SMBC also holds minority stakes in a number of banks such as Bank of East Asia in Hong Kong, Vietnam ­Export Import Commercial Joint Stock Bank (Exim Bank) in Vietnam and ­ACLEDA Bank in Cambodia.

Innovation with a human touch

Committed to exploring new ­ideas to improve every engagement with its customers, the bank has not been complacent but only forward-looking when it comes to technological investments — where about 40% of their total IT spend is devoted to strategic investments relating to innovation and the creation of new services, in their latest management plan. Innovation is also not a new concept to SMBC, which embarked on efforts for a digital transformation journey many years back.

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