The recent experience was clearly different. Consumer spending and residential investment were both relatively well maintained throughout 2001, even as firms cut employment and stock market losses eroded household wealth. Despite only modest increases in nominal wages and salaries, households' real disposable income was supported by tax cuts and lower inflation. In addition, low interest rates helped promote spending.
It is therefore self-evident that new digital banking innovations will continue to emerge, and gain prominence in customer service delivery. I am glad that Standard Chartered Bank has recognized  this  trend  and  has  embedded  digitalization in its strategy as reflected by the continued implementation of innovative banking solutions.