Future of work in the banking sector: Old banking vs new banking

Future of work in the banking sector: Old banking vs new banking

BY BRO KALAISELVAN

PORT DICKSON: At one time most of the jobs are done by clerical staff in the banking industrial.

Many of the jobs are assigned to the clerical staff. More staff were employed and gradually membership increases. This helped the Union to stand strong and gave better bargaining strength.

Today, the new banking system is taking away our jobs due to digital banking, innovation, customer needs, restructuring business, upgrading towards new technology y, reduction of cost, closing of branches, outsourcing jobs to third party and so on.

What will happen to the employees who sacrificed all their time and effort to make the banking sector a profitable organisation?

Can the bank retain all these employees?
Will there be jobs for the future generations?

Of course the bank will find ways to reduce staff by offering VSS, MSS, transfer or they will be forced to resign.

Subsequently, this will lead to reduce in membership. As a result, the Union’s role in the banking industrial will reducing.

So what is the best way to sustain the Union membership?

It is by adapting changes, upgrading our knowledge and taking up new job description to safeguard our jobs and membership in the Union.

The wind of changes is already taking place in the banking industry and more of our jobs will be replaced by digital banking.

The old banking system will not be with us anymore and members must mentally be prepared to take challenges in the new banking innovation system which we are confronting at present.

– Bro Kalaiselvan, Vice Chairman, NUBE Ipoh Branch – [Speech at the Special Forum, NUBE 23rd Triennial Delegates Conference]

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