Lim Soon Chong took over as DBS’ Group Head of Global Transaction Services on 1 August replacing John Laurens, who will be retiring at the end of the year. Lim, who also continues in his role as Head of Digital for DBS’ institutional banking group, spoke to TMI about his new position, and the role technology will play.
With experiences in a range of areas including financial risk consultancy, bank capital and prudential policy, macroeconomic surveillance, monetary policy research and international financial cooperation prior to joining DBS, and across consumer, wealth, risk management and corporate treasury spaces in DBS, Lim has an undeniably broad view of banking. It’s perhaps no surprise then that, as a technologist too, his view of the evolving digital landscape in treasury is similarly all-encompassing.
And with a notable acceleration of the adoption of technology in transaction banking throughout the pandemic, while it’s clear to him that most organisations now accept that digitalisation is the way ahead, most also accept that recent events have pulled the digital agenda forward by several years.
For DBS, which invested earlier than many banks in the digitalisation of its platforms, applications and architecture, the freedom from the constraints of legacy technology has enabled it to scale up its offerings markedly. “It’s enabled us to drive further adoption and help our clients with the demand for new connectivity, products and services,” he confirms.