Kampong Glam launches new digital initiatives with 150 merchants on board

Haji Lane in Kampong Glam.

Kampong Glam, Singapore’s first digitally-enabled neighbourhood, has launched five initiatives in its first phase to help traditional businesses there succeed in a digital economy.

The neighbourhood transformation project is led by the Infocomm Media Development Authority (IMDA), in collaboration with Enterprise Singapore, One Kampong Gelam (OKG) association and the Singapore Malay Chambers of Commerce and Industry (SMCCI). It is aimed at strengthening the neighbourhood’s appeal to digitally-savvy consumers and visitors interested in an experiential retail experience, and helping businesses become more productive through technology. Some 150 merchants are already benefitting from the transformation.

Dr Yaacob Ibrahim, Member of Parliament for the Jalan Besar Group Representation Constituency, has been appointed as special advisor to the Kampong Glam digital transformation project. As special advisor, Dr Yaacob will engage with key stakeholders, and provide guidance on the development and prioritisation on the digital transformation of the neighbourhood.

The first phase of the neighbourhood’s transformation comprises five digital initiatives:

- E-payments, for convenient transactions;

- Digital map listings and virtual in-store tours, for improved merchant discoverability;

- An augmented reality-enabled navigational tool with digital marketing features, to
help visitors navigate through the neighbourhood;

- Convenient, affordable shopping delivery services, so customers can “shop without
shopping bags”; and

- An integrated point-of-sale system, to help businesses become more efficient

Following initial success in helping more merchants establish online listings and virtual tours on digital maps such as Google Maps, a memorandum of intent was signed at the launch between Temasek Polytechnic (TP) School of Business, IMDA and OKG to increase the involvement of TP students to continue to assist merchants on their digitalisation journey.

To further enhance the digital capabilities of the Kampong Glam neighbourhood, OKG is working with key stakeholders to explore new ideas for a second phase of transformation, which may include pervasive outdoor Wi-Fi coverage, intelligent digital signages, Internet of Things-based visual identifiers, social media-based brand identity and e-commerce capabilities.

“I am encouraged to see how merchants in Kampong Glam have adopted digital solutions. Most
merchants recognise the benefits of digitalising their businesses but they need some help to make
the first step. This where the associations, industry partners and government agencies can provide
the resources and support. The appointment of Dr Yaacob Ibrahim, Member of Parliament for the
Jalan Besar Group Representation Constituency, as special advisor to the Kampong Glam digital
transformation project, would provide a familiar face on the ground offering support to merchants
on their digitalisation journey.

“This launch of the Phase 1 initiatives is just the start. With the collective effort from the community,
public and private sectors entering into mutually beneficial partnership, I am confident that merchants will adopt more innovative digital solutions, creating an even better visitor’s experience in Kampong Glam and improving their business opportunities,” said S Iswaran, Singapore Minister for Communication and Information.

“All businesses today, including traditional businesses, must digitalise to stay competitive in the digital economy. We are excited to collaborate with our partners to bring new digital options to Kampong Glam and enable more people to discover this gem of a neighbourhood. Businesses now have more tools to engage their customers with an integrated experience that unites the physical and digital, and be better positioned to seize growth opportunities in a fast changing business environment,” said Jane Lim, Assistant Chief Executive, Sector Transformation Group, IMDA.

“Kampong Glam is a neighbourhood close to many Singaporeans’ hearts, with a rich blend of rich history and culture, as well as modern retail shops and contemporary eateries. Strengthening our digital presence helps our merchants better connect to a younger generation of locals, as well as overseas visitors, to give them a chance to experience our unique mix of retail experiences and cultural heritage, said Saeid Labaffi, Chairman, OKG.

“We want to help businesses grow and there is a need for the traditional merchants to embrace technology, to open up the opportunity to increase their business multifold,” said Azhar Othman, Chairman, SME Centre@SMCCI. “This is where our advisors come in, to work hand-in-hand with the merchants, to get them online.”

“As the lines between the physical and digital world continue to blur, our small and medium sized enterprise (SME) merchants need to keep pace by adopting new mindsets and digital capabilities that enable them to fully participate in this ever-evolving economy. Embarking on this digital journey will allow businesses to better engage their customers not only here at Kampong Glam, but also beyond the precinct, bringing new opportunities to showcase the unique offerings of our SME merchants and reach new customers,” said Chew Mok Lee, Assistant Chief Executive Officer, Industry Clusters, Enterprise Singapore.

Credit Suisse Asia Pacific is focused on being the trusted entrepreneurs' bank

Source: Credit Suisse. Helman Sitohang, Chief Executive Officer, Asia Pacific, Credit Suisse.

Credit Suisse has been proactive against the looming prospect of technological disruption, digitalising its traditional wealth management service model instead of allowing itself to be 'disrupted', said Helman Sitohang, Chief Executive Officer for Asia Pacific, Credit Suisse, in his opening address for the fourth annual Credit Suisse Global Megatrends Conference in Singapore.

"We are simplifying access to the knowledge and insights of the bank, so that our clients can identify and act on the information that is most important to them, whenever they choose. By doing so, we aim to bring significant efficiency gains and higher value-added productivity to our relationship managers and Credit Suisse, and most important of all, enable us to serve our clients better and cultivate deeper client relationships." 

Sitohang noted that the bank has seen waves of technological innovations increasingly disrupting traditional business models across many sectors, from transport, to commerce to especially financial services. "The pace of disruption seems to be accelerating by the day, with major implications on consumers, businesses, as well as regulations," he said.

Credit Suisse launched its global digital private banking platform, which includes a mobile app, a year ago. Singapore was the first rollout location, Sitohang noted. "One year on, we are delighted that client usage of the digital banking platform has accelerated significantly, by ten-fold, as new functionalities and devices have been introduced," he said.

Credit Suisse Asia Pacific is committed to making significant investments of capital and resources into the region, Sitohang added. "We are focused on positioning Credit Suisse as the Trusted Entrepreneurs’ Bank for our clients in Asia Pacific. As wealth in Asia Pacific continues to grow and financial markets deepen over the long term, we see significant opportunities to help you capture this growth, and will support you with our integrated capabilities that address a complex range of your private wealth and corporate needs," he said.

On the event website the bank explains that megatrends are major economic, social and political forces relevant across decades that are a prerequisite for successful investments into growing markets. The bank has developed a megatrends framework to expose long-term opportunities of a given megatrend while also allowing for the tactical aspects of the megatrend’s investment cycle. The megatrends have been grouped under the three overarching pillars of demographics, multipolar world and sustainability.

Hashtag: #CSMegatrends