SINGAPORE- MediaOutReach- 30 January 2019 - Singapore and Hong Kong are often seencompeting for the title of Asia's most important financial hub. This reportanalyses the state of digital transformation in banks in both cities based ontheir hiring activities in 2018.

TopHiring Singapore Banks Posted More Technology Roles Than Top Hiring Hong KongBanks

While the top hiring banksin Hong Kong generally hire more positions than the top hiring banks in Singapore,the banks in Singapore hire a much larger proportion of technology jobs, with 20%of job posting being a technology job, as compared to 5% in Hongkong.

https://drive.google.com/open?id=1x_5XU44nNkADjp66nCCpkDJBsT7JrkHG

Banks with significant presence in bothcities also hire a larger number of technology jobs in Singapore as compared toHong Kong

For instance, J.P. Morganposted 640 technology jobs in Singapore and 170 in Hong Kong and DBS posted 630technology jobs in Singapore and only 50 in Hong Kong. Given that these bankshave a significant presence in Hong Kong, it could suggest that they are basingmost of their digitisation efforts in Singapore.

BusinessIntelligence/Analytics, Data Analytics and Application Engineering were themost sought-after technology domains among top hiring banks in Singapore andHong Kong in 2018

This is in line with banks' digital transformationinitiatives and their push for analytics. The hiring trend for BusinessIntelligence/Analytics and Data Analytics positions is consistent across manyof the large banks in recent years. J.P. Morgan and OCBC seem to follow thistrend to a lesser extent in 2018. OCBC technological domains are more spreadout in Singapore with a slightly stronger focus in Information Security whileJ.P. Morgan has a deeper focus on Application Engineering.

It is also noteworthy that there is a stronger focus on InformationSecurity positions in top hiring Singapore banks than its counterparts in HongKong, which is another indication of digitising efforts in Singapore, given thatcyber security plays a critical role in digitisation.

Breakdown (%) ofTechnology Jobs Domains by Top Hiring Banks in Singapore and Hong Kong in 2018

https://drive.google.com/open?id=1WDpi2vsP4pXJDFR5L4VYWhC8S0zOroFE

The heatmap examines the breakdown oftechnology jobs posted by these top hiring banks by their technologicaldomains, with darker shades showing higher prevalence and vice versa.

Most Sought-After Skillsin BusinessIntelligence/Analytics , Data Analytics and ApplicationEngineering by Top Hiring Banksin Singapore and Hong Kong in 2018

There are some similarities in terms of skills and domainknowledge areas across technological domains in Singapore and Hong Kong tophiring banks. Business Intelligence/Analytics positions focused on business andfinance related domain knowledge, while Data Analytics positions focused moreon popular programming, database management and statistical skills used in DataScience. Also, banks from both countries tend tolook out for Java and Cloud skills sets for Application Engineering positions.

However, for the Data Analytics domain, there are more BigData related technology skills such as Big Data and Hadoop in Singapore whereasMachine Learning Algorithms, SAS and R-Programming are more sought-after inHong Kong.

Singaporebanks are ramping up on its technological expertise more intensely

Not only are Singapore banks looking to hire moretechnological talents, they are also looking to hire for a wider variety ofdifferent domain expertise, which is often necessary for digitisation of asector. The above analysis offers a glimpse into the different approaches tworival financial hubs are taking to improve their competitive advantage in theregion.

By analysing skills requirements across domains, companiesand geolocations, it is possible to glean deeper insights into companies hiringtrends as well as workforce demands in countries.

Appendix

Infographic -- DigitalTransformation Among Singapore & Hong Kong Top Banks

https://drive.google.com/open?id=1uF3CtpamQkTUGHqU8zYVuybpSX3e4Jhw

JobTechData API

In order to provide real-time access to Online Jobs Censusdata, JobTech has developed 2 data APIs (Application Programming Interface) forits strategic government and industry partners to acquire up-to-date andstructured jobs market data automatically. The 2 APIs will allow users toobtain sectoral data for both the de-duplicated job counts as well as the topskills demanded in real time, from the JobTech database which has more than 50million data points.

JobTech will continue to provide flash reportscovering different sectors in Singapore, with a focus on highly sought-afterskills and labor market trends. In this regard, JobTech is using its Big DataAnalytics and Artificial Intelligence capabilities to provide visibility andanalysis of the online jobs market in Singapore to support companies anddecision makers there.

For more information on the full version of JobTechAnalytics Reports (Quarterly Sector Reports) and Real Time Analytics, pleasevisit https://analytics.jobtech.co/

AboutJobTech^TM        

JobTech is driven by adesire to change the labour market for the better. We have made it our missionto find the right match between people and jobs more efficiently, andcontinually build products and solutions that enhance human resourceproductivity.

We are Singapore'sleading Artificial Intelligence and Big Data Analytics start-up that providesoptimised job matching tools and real-time labour market intelligence. Our coretechnology is the result of 10 years of research and development by top machinelearning experts and data scientists. This drives our ability to analyse morethan 1 million job postings every day, providing complete and accuratevisibility of online jobs markets around the world.

We serve a multitude ofcustomers. For employers, we provide candidates that have been vetted forquality and interest. For job seekers, we provide a platform where they canfind jobs across thousands of sources. For businesses, financial institutions,the government, recruiters and consultancy firms, we provide information onhiring trends that they use to inform policies and guide business decisions.