UOB Malaysia launches the first ‘bank, dine and pay’ mobile banking app for consumers in Malaysia

This is an unavoidable process. Most consumers including bank employees are becoming tech savvy. For banks to remain relevant they need to innovate but will this new app eat into jobs?

This app will no doubt be modified and replicated by others in the industry giving better deals with eateries and may even expand into the retail industry, eventually rendering the credit card redundant.

One consideration is, how can the government regulate to protect employment ensuring that employers become equally innovative in modifying job scope with skills training instead of opting to retrench.

Just as the world rushes into automation, responsible governments of the day must put in place legislation to ensure that retrenchment is not an option – retain and train staff.


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