MKT363
Services Marketing
Tutor-Marked Assignment
January 2022 Presentation
MKT354 Tutor-Marked Assignment
SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 2 of 7
TUTOR-MARKED ASSIGNMENT (TMA)
This assignment is worth 18% of the final mark for
The cut-off date for this assignment is 4 April 2022, 2355hrs.
Note to Students:
You are to include the following particulars in your submission: Course Code, Title of the
TMA, SUSS PI No., Your Name, and Submission Date.
Format should be in Times New Roman or Calibri font size 12, 1.5 line spacing and 2.5
cm margin throughout. Page limit is 3 pages in total (inclusive of in-text citations but
excludes reference page and appendices). Adopt the APA referencing format.
Students will be penalised :
up to 5 marks for weak or lack of proper referencing format and/or
up to 5 marks for weak organisation and structure of the report writing.
Students are expected to research and read widely when attempting the TMA. There should be
critical thinking and analysis in the writing process.
Important Note: Grading of TMA/GBA/ECA Submissions
Marks awarded to your assignment are based on the following guidelines:
1. 80% of the marks are allocated to the content of your answers:
The marks awarded to what your answers cover depend on the extent to which they
cover the key points that correctly and comprehensively address each question.
The key points should be supported by evidence drawn from course materials and,
wherever relevant, from other credible sources.
2. 20% of the marks are allocated to the presentation of your answers:
Wherever applicable, the marks awarded to how your answers are presented depend
on the extent to which your answers:
form a sound reasoning by developing those key points in a clear, logical and succinct
manner;
provide proper and and referencing to content drawn from
course materials and other credible sources;
strictly follow APA formatting and style guidelines1
, in particular for:
in-text citations and ;
the identification of figures and tables;
1 You can find a short tutorial on the APA formatting and style guidelines here: https://is.gd/mgEOnC .
Additional details (pertaining to tables and figures) can be found here: https://is.gd/O4vDdT .
MKT354 Tutor-Marked Assignment
SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 3 of 7
use, wherever relevant, the specialised vocabulary and terminology commonly used in
discussions about the topic(s) covered by each question;
provide a reference or bibliography at the end of the main report;
include the less relevant details in an Appendix;
use sentence constructions that are grammatically and syntactically correct;
are free from spelling mistakes; present the workings, numerical formulations and
results in a logical manner that follows the APA formatting and style guidelines;
design and present graphs, diagrams and plots that follow the APA formatting and style
guidelines;
are highly original;
have proper formatting, which may:
include a properly formatted cover page;
respect the answer length/word count set out in the assignment guidelines, if
any is prescribed;
present answers in paragraphs with proper spacing and page margins;
include page numbers and appendices, if necessary.
MKT354 Tutor-Marked Assignment
SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 4 of 7
Read this article to gather some background information for your TMA.
UOB banks on trust and technology
Scaling with speed, while ensuring security in its underlying infrastructure is a priority in the
bank’s regional digital strategy
THE role of banks as “trusted custodians” of customers’ financial needs must not be
understated, even with the emergence of digital banking alternatives today. One key priority
for UOB as it strengthens its regional digital brand and rollout of progressive solutions,
therefore, is to scale with speed while ensuring the security of its underlying infrastructure,
says the bank’s head of group technology and operations Susan Hwee.
“I don’t think we should underplay the importance of our role as a ‘trusted partner’ to customers.
We are trusted to take care of their financial needs, whether it is to protect and grow their
wealth or to be a custodian of their assets.
“That trust is hard to replicate in a fully digital relationship. As an omni-channel bank, we don’t
take the trust given to us lightly and do all we can to preserve it across all of our touchpoints,”
she says.
UOB prides itself on its “omni-channel” approach with targeted, personalised digital
engagement as well as physical touchpoints.
While the bank has seen success with the launch of its TMRW digital bank in Thailand and
Indonesia over the last , customers in these emerging markets have also
said that they still value the presence of UOB’s physical network.
“What customers are telling us is that they like the fact that we do have branches, that we have
a contact centre that they can call, because that builds a deeper level of trust. If they come
across an issue, they can speak to someone for help,” Hwee says.
“So even though they may rarely use the physical touchpoints, they feel comforted that there
is actually a human behind it. Especially for more complex financial transactions, a human
relationship offers the value of connection and trust.”
UOB is also building its tech talent to ensure that its tech and business functions are
communicating with each other.
From 2014 to 2019, UOB invested S$2 billion to enhance the quality and robustness of its
digital infrastructure and services across its key markets in Asean and China.
Now, it is investing another S$500 million to boost digital capabilities across Asean, as it aims
to more than double digital retail customers by 2026 to over seven million across the region.
This investment will be used to scale up digital acquisition and API (application programming
interface) partners, as well as improve its customer value proposition through new digital
initiatives, hyper-personalisation and self-serve products
Adapted for academic teaching purpose
https://www.businesstimes.com.sg/hub/future-of-finance/uob-banks-on-trust-and-technology
8 Monday 2021 <<accessed on 12 November 2021>>
MKT354 Tutor-Marked Assignment
SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 5 of 7
Question 1
Technology and innovation have accelerated the impact on the service economies, especially
the banking industry and its digital infrastructure.
Examine and illustrate with examples, how digital technology (for example, artificial
intelligence, data analytics) has transformed the banking industry in terms of : omni-channel
banking services, tech talent and customer personalisation & engagement.
(Important note to students: in addition to the above article on UOB, you are expected to read
and research widely for the TMA. Good research will enrich your learning and elevate your
critical thinking in your writing process.)
(60 marks)
MKT354 Tutor-Marked Assignment
SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 6 of 7
Read this article to gather some background information for your TMA.
How SMS phishing scams have affected OCBC customers and put
in focus | Kenny Chee and Dominic Low
SINGAPORE – Dec 28 is not a day that housewife Siti Raudhah Mohd Ali, 33, remembers
fondly. The mother of seven lost about $100,000 to scammers within minutes that day after she
fell for a bogus SMS that had spoofed OCBC Bank as the sender.
Most of the money was meant for her children’s expenses.
“It was like the whole world just crashed on me. I felt helpless inside,” she said, recounting
how she received multiple notifications of the fraudulent transfers on her phone.
Victims who contacted The Straits Times said they lost amounts ranging from about $3,000 to
$500,000, which for some amounted to their entire life savings built up over the years for their
families.
Some victims claimed that it took so long – 20 minutes or more in some cases – to get through
to a person via OCBC’s hotline that, by the time the bank was able to take action, the scammers
had already siphoned much of their funds.
In desperation, one customer rushed down to a physical bank branch to try and stop the
scammers but was too late, according to one account.
Amid more customers coming forward in the new year to share how the scams affected them,
and more questions being raised about how safe digital banking is, OCBC and the authorities
moved in quick succession last week to address the issue.
On Monday (Jan 17), the Infocomm Media Development Authority (IMDA) urged more
businesses to sign up with an anti-SMS spoofing registry, which allows organisations to
register SMS sender names they wish to protect from misuse.
The registry was launched as a pilot scheme in August last year with the Monetary Authority
of Singapore (MAS).
Mrs Ong-Ang Ai Boon, director of the Association of Banks in Singapore (ABS), later said
that for the registry to be effective, “all relevant stakeholders in the digital ecosystem need to
be involved, particularly telecommunications companies to ensure scam messages cannot be
sent through their networks”.
MAS also said on Monday that it would consider the appropriate supervisory actions after
OCBC conducted a thorough probe into the scams.
(adapted for academic teaching purpose, Straits Times 22 Jan 2022
https://www.straitstimes.com/tech/tech-news/how-sms-phishing-scams-have-affected-ocbccustomers-and-put-text-messaging-security-in-focus <<accessed 21 Feb 2022>>)
Question 2
Given the recent phishing scams that affected OCBC bank customers, there have been growing
concerns about the privacy and security affecting digital users, especially since many of us use
our mobile phones for services beyond banking, such as online shopping, food deliveries and
others. The scams have resulted in a dent to the Singapore Governments Smart Nation
initiatives.
MKT354 Tutor-Marked Assignment
SINGAPORE UNIVERSITY OF SOCIAL SCIENCES (SUSS) Page 7 of 7
Discuss and critique how the recent phishing scams have: (a) affected public confidence
towards trusting digital banking, and (b) give suggestions how banks can help regain publics
trust and confidence.
(40 marks)
—- END OF ASSIGNMENT —-
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