The solution is called POSB Smart Buddy and helps teaching students about keeping track of their finances. 130 teens received a customised watch with the system embedded into it and another 60 a specialised concessions card. A mobile application accompanies the card and watch allowing parents to set a daily spending limit and monitor and track children’s purchases. The watch version of the system also doubled as a fitness tracker. Positive feedback from users determined POSB to roll out the system to more schools in the coming months.
POSB was acquired by DBS in 1998 for USD 1.15 billion, and operates one of the largest branch networks in the country, particularly prominent in suburban areas. POSB also deploys the largest ATM fleet in the country.
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