Career Opportunities & Resources
Login
IBF Portal
Log in to the IBF Portal to register for exams and update your IBF Corporate Membership
IBF Portal LoginTraining Partners Gateway (TPGateway)
Log in to TPGateway for organisation recognition, course accreditation and claims submission
TPGateway LoginSubscribe
Who We Are
IBF provides support to Individuals and Financial Institutions in skills, careers and talent development.
Careers@IBF
Make a difference in the financial industry.
Media Room
Get the latest news, speeches, updates and announcements.
IBF Awards
Celebrate professional excellence in the financial industry.
Skills and Jobs Development
Find resources and programmes for your career development.
Upskill
Career Conversion
Training Support
Scholarships and Study Awards
IBF Certification
Get recognised for your skills.
CPD Requirements
Stay current with industry and regulatory developments.
Career Advisory
Resource Tools
Track your skills and stay up to date with industry trends.
IBF Skills Badge
Workforce Transformation and Talent Development
Discover a wide range of programmes to support your organisation’s talent development and expansion.
Upskill Your Talent
Reskill Your Talent
Develop Young Talent
Develop Mid-Career Talent
Develop Leadership and Specialist Talent
Power Your Talent
IBF Portal Services
Access the IBF Portal for these transactions.
Resource Tools
Collaborate with us in talent development and workforce transformation.
TPGateway
Looking to submit for Funding Support on TPG? Start here
Join The IBF Training Ecosystem
Gain industry recognition for your training programmes.
IBF Portal Services
Access the IBF Portal for these transactions.
TPGateway
Access training grant administration services.
Notices
Get the latest updates and announcements.
Examinations
Learn about regulatory and licensing examinations for various sectors in the financial industry.
Exam Rules & Regulations
Observe the rules and regulations governing the conduct of examinations.
Resources
Prepare for your examinations.
FAQ
Find answers to your questions about the industry and regulatory exams
Announcements
Get the latest updates and announcements.
Events
Attend IBF events and webinars which feature industry thought leaders from financial institutions and regulators.
Log in to the IBF Portal to register for exams and update your IBF Corporate Membership.
Log in to TPGateway for claims submission and funding schemes.
Share Article
Imagine there are two different groups of people who do not meet. The first group, we called them “savers”, has surplus cash but do not have any productive ideas. The second group, we called them “borrowers”, has ideas such as buying houses or starting a new business but lacks cash.
Banks connect both the “savers” and “borrowers” and channel funds from “savers” to “borrowers”. In return for providing the fund, “savers” would receive some returns in the form of interest with minimal risk. “Borrowers” can execute their productive ideas by providing a fee known as interest payment. Without banks, the first group will be sitting on a pile of money while the second group will have to defer executing their ideas. As such, banks play an important role in the economy by acting as a financial intermediary.
Banks have grown tremendously in the past decades and now offer extensive products and services such as financial advisory, bancassurance and wealth management.
Did you know?Banca Monte Dei Paschi Di Siena, Italy, the oldest Bank in the world, traces it origin to 1472 and is still in operation today. Imagine the changes that this bank has witnessed in terms of technology, consumer preferences and regulations since its inception. |
Banking is any business activity conducted by a bank. In the past, banking was straight-forward with customers saving their monies in the bank or getting loans from them.
Today, there are many types of banking activities such as retail, corporate, investment, and wealth management. Each type of banking serves very specific clients and provides unique products and services to address vast customers’ needs.
To provide these products and services to the public, a bank will need to acquire licenses which are typically issued by the appropriate authorities.
Did you know?
The word "bank" originates from the Italian word "banco" which simply means bench. The bankers in Italy during the 1400's and 1500's conducted their banking businesses on a bench.
| ![]() |
Banks play an important role by making funds available for productive ideas by financing economic activities such as setting up a new factory, constructing a new building, exporting goods to other countries, or even buying a car.
These economic activities will have a multiplier effect within an economy by generating economic growth. This virtuous cycle can help to increase the income and living standards of the people.
Banking is necessary.Banks are not.Bill Gates Founder of Microsoft Corporation |
While banks provide funds to the “borrowers”, the real source of funds comes from the “savers”. Thus, it is important for banks to build and maintain public confidence in banking.
Internally, banks exercise self-regulation by strengthening corporate governance, ethical behavior , risk management, and compliance. As a sector, a supervisor and regulator is required.
In Singapore, the Monetary Authority of Singapore (MAS) which is the central bank plays the role of supervisor and regulator to ensure a sound and progressive financial services sector.
The face of the banking industry has changed tremendously in the past few years. To keep pace with a more dynamic economy amidst digital transformation, the banking industry needs to respond to these drivers of change.
The future of banking is driven largely by:
These three drivers are not independent. They are inter-connected.
The development of a new technology that enhances customer’s experience will in turn affect regulations. For example, advances in data analytics that help a bank to personalize the consumer’s banking experience will need to collect a lot of data from the consumer, thus creating a need to regulate how data collected is being used.
Advancement in technology has changed and will continue to change banks and banking.
FinTech, a combination of two words “finance” and “technology”, has disrupted the banking industry in various ways such as:
Consumer preferences are largely driven by demographic changes and the expansive possibilities brought by technological advancement.
Millennials are less likely to go to a bank branch to access banking services. This has led to a proliferation of digital platforms where consumers can purchase financial products and services as well as conduct transactions online.
Digitalization can help the banks to customize touchpoints to enhance customer experience and adapt to customer preferences.
Banking regulations will need to evolve as banks use more technology and transform their business processes to meet customer preferences.
Some of the key threats identified are misuse of data and cybersecurity. Controls addressing data protection and securing the banking network to prevent cybersecurity incidences will become more important going forward.
As a result, banks are increasingly exploring the use of authentication technology such as biometrics, facial recognition, voice recognition, and RegTech to protect consumers and the banks. RegTech is the management of regulatory processes within the financial industry through technology, for example to facilitate customer due diligence processes.
Did you know?The Monetary Authority of Singapore (MAS) in June 2019 announced the issuance of licenses of up to five digital banks.
| ![]() |
Career Opportunities & Resources
In-Demand Skills
Industry Webinars & Events
*By subscribing to the IBF Mailing List, you are confirming that you have read and understood IBF’s Privacy Policy, and are providing your consent to receiving marketing content from IBF.
Stay Connected
Stay Connected
*By subscribing to the IBF Mailing List, you are confirming that you have read and understood IBF’s Privacy Policy, and are providing your consent to receiving marketing content from IBF.
Thank you for subscribing! Check out some of IBF services that may interest you. Skills Framework for Financial Services Funding Support & Schemes Programme Recognition Process Claims Submission
© The Institute of Banking & Finance