As global tourism numbers plummet, STB looks to technology to help transform the industry
DBS Bank and the Singapore Tourism Board (STB) have partnered to use digital technology to stimulate domestic tourism demand in the immediate term, as well as drive cross-border demand and catalyse tourism industry development in the mid- to long-term.
The partnership between STB and the local bank will leverage DBS’ ecosystem of services such as its travel marketplace portal, digital payments collection solutions, predictive analytics and everyday app DBS PayLah! to help the tourism industry seize new opportunities.
DBS and STB will also help local small- and medium-sized enterprises (SMEs) accelerate their digital transformation.
A key initiative between the two organisations will be to help locals shift everyday payment and banking needs to their mobile phones and online platforms.
DBS and STB will help homegrown tourism businesses digitally transform so they can easily reach out to customers and boost customer engagement, and better thrive in the new COVID-19 environment. For example, both DBS and STB will partner local businesses to pilot smart experiences such as a seamless and contactless digital payment experience at various precincts.
As a start, both organisations will launch a campaign to grow demand and encourage the use of DBS PayLah! at the Bugis precinct by the end of the year, said Shee Tse Koon, Head of DBS Singapore Country.
“As the Development Bank of Singapore which helped the nation industrialise, we at DBS remain invested in charting a path of recovery for Singapore,” he said. “We look forward to supporting our local SMEs by leveraging our consumer base, data insights and technology to help them build up their resilience and unlock more business opportunities.”
According to Keith Tan, chief executive at STB said both organisations will look to help smaller businesses to digitalise and implement smarter tools to engage their customers.