Industry News

Forrester has unveiled its first Total Experience Score rankings for Singapore’s financial services sector, highlighting a significant gap between brand promises and customer experiences. The 2025 report shows that whilst Citibank, HSBC, and Raffles Health Insurance excel in their respective sectors, most firms struggle to deliver consistent experiences that foster trust and loyalty.

The Total Experience Score, a composite measure derived from Forrester’s Brand Experience Index and Customer Experience Index, evaluates perceptions formed by both customers and noncustomers through their interactions with a brand. This score is unique in its ability to assess brand impact across the entire customer lifecycle, providing insights for customer experience, marketing, and digital business leaders to pinpoint key drivers of brand and customer experience, trust levers, and influential emotions.

Forrester’s findings indicate that only a few financial services firms in Singapore manage to align their brand promises with the experiences they deliver. This misalignment poses challenges in building long-term customer loyalty. The report underscores the importance of understanding the emotional factors that affect a brand’s ability to attract, retain, and serve customers effectively.

As the financial services landscape in Singapore evolves, firms are urged to focus on bridging the gap between their brand promises and the actual customer experience to maintain competitiveness and foster enduring customer relationships

The latest Digital 2026 report from Meltwater and We Are Social highlights significant milestones in global digital behaviour, with internet users now exceeding 6 billion worldwide. This comprehensive analysis also reveals that social media users constitute nearly 70% of the global population, whilst over 1 billion people engage with AI-powered tools monthly.

The report underscores the rapid evolution of digital landscapes, particularly in Southeast Asia and Singapore. In Singapore, internet adoption is remarkably high, with 98.9% of the population online. The nation ranks 16th globally for ChatGPT usage among individuals aged 16 and above, with 37.1% of Singaporeans using the AI tool, surpassing the global average of 26.5%.

Social media platforms like TikTok and YouTube are widely used in Singapore, with 56.5% and 71.6% of the population engaging with these platforms, respectively. Interestingly, Singaporeans prefer search engines over social media for brand discovery, with 34.2% using search engines compared to 29.5% relying on social media.

Online shopping is prevalent, with 58.8% of Singaporeans making weekly purchases online, indicating a preference for digital over physical retail. Additionally, 63.7% of Singaporeans pay for digital content monthly, slightly below the global average of 67%.

The report also highlights concerns about online misinformation, with 71.1% of Singaporeans expressing worry. These insights provide a detailed view of the shifting digital ecosystem, influencing how businesses and individuals interact online. Country-level reports offering deeper insights into Singapore’s digital trends are expected next month.

Manus AI and Heicoders Academy have joined forces to introduce GA100: Generative AI Course for Automation and Productivity, Singapore’s inaugural hands-on AI agent upskilling course. This initiative, announced on 22 October 2025, is designed to equip working professionals with the skills to design and deploy AI agents, aligning with the national push for AI readiness. The course aims to transform AI from a buzzword into a practical workplace capability.

The six-week programme offers 24 hours of live, practitioner-led lessons, complemented by guided labs and mentorship from active AI engineers. Participants will learn to design, build, test, and deploy autonomous AI agents capable of automating tasks across various domains such as research, operations, and customer engagement. The curriculum focuses on the plan, act, and reflect loop, enabling students to understand decision-making processes and real-time tool orchestration.

Targeted at mid-career professionals aged 25 to 45, the course includes complimentary access to Manus AI’s sandbox and involves real business challenges. Participants will graduate with a Workforce Skills Qualifications (WSQ) Certificate, a nationally recognised credential. Course fees can be offset using SkillsFuture Credits, with additional support options available for eligible participants.

Beh Min Yan, CEO and co-founder of Heicoders Academy, stated, “GA100 is designed for practitioners – learners don’t just learn about AI agents; they build and apply them to solve real business challenges.” Zhang Tao, co-founder of Manus AI, added, “By putting Manus AI directly in the classroom, professionals get hands-on with the planning, acting, and orchestration patterns that matter in real environments.”

This partnership underscores Singapore’s commitment to becoming a regional hub for agentic AI, with Manus AI having relocated its global headquarters to Singapore in July 2025.

Citibank has been ranked as the leading bank in Singapore for total experience, according to the inaugural report by global research and advisory firm Forrester. The report, released on 22 October 2025, evaluated six banks in Singapore, combining brand and customer experience scores to determine the rankings. This recognition highlights Citibank’s commitment to holistic client service and innovation.

The Total Experience Score, a composite of Forrester’s Brand Experience (BX) Index and Customer Experience (CX) Index, measures perceptions formed by both customers and non-customers through their interactions with a brand. Yeo Wenxian, Citibank Singapore’s CEO, stated, “This ranking validates Citibank’s commitment to serving our clients holistically and reflects our strong global brand among customers and non-customers.”

In the past year, Citibank has introduced numerous initiatives to enhance customer experience, including digital enhancements that streamline transaction authorisation and improve eBrokerage services.

Gourab Kundu, Head of Digital Growth for Asia South Wealth, noted, “We will continue to boost our client experience and build on our ranking.” Citibank plans further enhancements, including app improvements for wealth customers and productivity tools for client advisers.

Citibank’s achievements underscore its role as a leading banking partner, providing a wide range of financial products and services across more than 180 countries.

Global professional services firm GHD has announced the appointment of Tara Herley and Jason Fonti to key leadership roles, aiming to drive infrastructure growth across Southeast Asia. Herley will serve as Business Group Leader, Infrastructure Advisory – Southeast Asia, whilst Fonti takes on the role of Head of Infrastructure Investment & Capital Projects – APAC. These appointments reflect GHD’s ambition to expand its advisory services and investment capabilities in the region.

Herley, with extensive experience in the APAC infrastructure sector, will focus on expanding GHD’s advisory services. Her expertise spans transport, energy, resources, and digital technology. “We’re seeing a surge in investor appetite across Southeast Asia,” Herley stated, emphasising the firm’s readiness to connect global capital with regional opportunities.

Fonti, who has over two decades of experience in infrastructure transactions and capital projects, highlighted Singapore’s strategic role as a financial and innovation hub. “We’re building a capability that enables clients to deploy capital with confidence,” he said, underscoring the importance of combining technical depth with commercial insight.

These strategic appointments come as GHD accelerates its growth strategy in Southeast Asia, aiming to deepen relationships with infrastructure investors and government stakeholders. The firm is committed to supporting clients throughout the infrastructure delivery lifecycle, from strategy and investment readiness to execution and optimisation.

Nick Pohl, APAC Business Advisory Leader, noted, “Jason and Tara’s appointments mark a step-change in our ambition,” reflecting GHD’s intent to be the partner of choice for infrastructure investors across the region.

StraitsX, a leader in stablecoin-native settlement and a major payment institution licensed by the Monetary Authority of Singapore, has announced a significant expansion across Asia, bolstered by a strategic US$10m investment from UQPAY, a prominent cross-border payment solutions provider, and ongoing support from NTT DOCOMO, Japan’s leading mobile and digital services company. This move aims to strengthen StraitsX’s position as a global leader in regulated digital payments by leveraging stablecoin infrastructure to enhance cross-border payment connectivity.

The partnership with UQPAY and DOCOMO highlights the increasing integration of Web3 innovation with institutional finance, allowing StraitsX to expand its presence in major Asian markets. Key initiatives include the development of enterprise-grade APIs for seamless stablecoin and fiat currency transactions, the issuance of virtual and physical cards through partnerships with RedotPay and VISA, and the scaling of cross-border payment corridors to reduce transaction costs and friction.

Tianwei Liu, CEO of StraitsX, stated, “This marks the start of a new growth chapter for StraitsX. With the latest support from UQPAY, we’re expanding our foundation across Asia to deepen cross-border connectivity and enable enterprises to move value seamlessly in a trusted and compliant way.”

Jack Li, CEO of UQPAY, expressed enthusiasm for the partnership, noting its potential to create seamless, compliant, and borderless payment experiences. This collaboration aims to establish stablecoins as a regulated and interoperable infrastructure across global markets, paving the way for a unified financial network that supports a trusted global standard for value exchange.

Megan Hughes has been appointed as the Managing Director and Vice President of Sales for HubSpot in the Japan, Asia Pacific, and India (JAPAC) region. Based in Sydney, Hughes will oversee business growth, sales strategy, and operations across key markets including Singapore, Japan, India, Australia, and New Zealand. Her appointment comes as the global customer relationship management (CRM) industry is projected to surpass $163 billion by 2030, with Asia Pacific identified as the fastest-growing market.

Hughes brings over 25 years of experience in the technology sector, having previously served as HubSpot’s ANZ Country Lead and Senior Director of Sales. During her tenure, she led the establishment of HubSpot’s first data centre in Australia and secured a major partnership with the TCS Sydney Marathon. Her leadership has been instrumental in supporting thousands of customers, including MYOB, HungryHungry, and Global Schools Foundation.

David Cohen, Chief Sales Officer at HubSpot, praised Hughes’ impact, stating, “Over the past four years, Megan has transformed our ANZ business, building a customer-first culture where teams deliver real impact.” Hughes’ focus will be on addressing growth challenges such as technology integration, which HubSpot research highlights as a significant barrier for businesses.

Hughes expressed her enthusiasm for the new role, saying, “This role represents the perfect intersection of my passion for developing high-performing teams and creating real impact for the customers we serve through technology.” Her immediate focus will be on leveraging HubSpot’s AI-powered platform to enhance customer interactions and drive growth across the region.

COSCO SHIPPING International (Singapore) Co., Ltd has announced the signing of framework agreements with Shenzhen Ocean Shipping Co., Ltd. The agreements, disclosed on 21 October 2025, focus on providing ship repair services and procuring ship materials, marking a significant collaboration between the two companies.

The agreements aim to streamline operations and enhance service delivery in the maritime sector. By partnering with Shenzhen Ocean Shipping, COSCO SHIPPING seeks to leverage synergies in ship repair and material procurement, potentially reducing costs and improving efficiency.

This collaboration is expected to bolster COSCO SHIPPING’s operational capabilities, aligning with its strategic goals to expand its service offerings and strengthen its market position. The agreements underscore the company’s commitment to enhancing its service portfolio and maintaining high standards in maritime operations.

A recent report by Beazley reveals that 74% of Singapore-based executives view geopolitical and economic uncertainty as significant obstacles to business growth, a figure that has risen to 75% as of July 2025. The report, which surveyed 3,500 senior business leaders globally, highlights the increasing concerns over inflation and economic instability. In 2025, 30% of respondents identified inflationary pressures as a top risk, up from 25% in 2024, whilst 26% cited economic uncertainty as their biggest threat, an increase from 20% the previous year.

The findings underscore the complex risk environment businesses are navigating, with many adopting short-term strategies. However, Beazley suggests that long-term foresight and adaptability are crucial for growth. The report indicates that 38% of Singapore companies plan to reassess the security of their overseas operations, reflecting a shift towards treating security threats as immediate risks. Additionally, 32% of firms intend to explore insurance options that include risk and crisis management, up from 20% in 2024.

Despite the challenges, companies are investing in high-risk, high-opportunity areas such as AI and fusion energy. Bethany Greenwood, CEO of Beazley Furlonge Limited, emphasised the role of innovative insurance solutions in turning risks into competitive advantages. “Resilience isn’t just about surviving disruption; it is about turning risk into competitive advantage,” she stated.

The report suggests that businesses leveraging strategic risk management and insurance solutions can continue to thrive amidst uncertainty, positioning resilience as a key driver of growth.

Shopee, a prominent e-commerce platform in Southeast Asia, Taiwan, and Brazil, has teamed up with Meta to launch a suite of tools aimed at simplifying product discovery on Facebook and facilitating direct purchases through Shopee. This collaboration introduces a streamlined approach to affiliate marketing and enhances Facebook Live with Collaborative Ads.

The partnership allows creators with affiliate accounts to use Facebook Affiliate Partnerships, a dashboard that links their Facebook and affiliate accounts. This enables creators to tag products in posts and Reels, allowing shoppers to complete purchases directly on the affiliate partner’s site. Shopee is the first partner for this initiative, empowering creators to monetise content and connect brands with new customers.

Peggy Zhu, Head of Brand and Growth Marketing at Shopee, stated, “Shopee is committed to strengthening our ecosystem and improving the e-commerce experience. This includes helping brands and sellers expand their reach whilst creating new opportunities for affiliates to thrive and be creative.”

The collaboration also benefits creators through the Shopee Affiliate Programme, offering higher commissions, free product samples, and product sponsorships. Shopee supports affiliates with bootcamps and events to enhance their content creation skills.

Additionally, brands and sellers can maximise Facebook Live by integrating Collaborative Ads, allowing seamless product showcasing and checkout on Shopee. This feature is currently being piloted in Thailand, Indonesia, Vietnam, and the Philippines.

Damian Kim, APAC Director of Monetisation at Meta, commented, “With these product updates, Meta is demonstrating how we’re evolving to meet changing consumer behaviours in the region.”

The new tools are available in several countries, including Singapore, Malaysia, and Brazil, marking a significant step in the evolving digital shopping landscape.