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NUS, Citi conduct first undergrad banking course

17 January 2013

Mr Low introducing students to transaction banking

For the first time in Singapore, a bank has tied up with an educational institution to offer a transaction banking course for undergraduates.

NUS Business School and Citibank Singapore recently launched a course on transaction banking to address the growing market demand for this type of services. This marks a first for Citi working with an academic organisation to provide such a course.

The 13-week course commencing 14 January is developed by faculty staff of NUS Business School and bankers from Citi Transaction Services. They will teach the School's undergraduates the concepts of transaction banking, including product capabilities and services, and examine issues from the perspectives of a transaction banker, corporate treasurer and chief financial officer. Participants will be able to apply the knowledge in a course practicum that gives exposure to real-life transaction banking issues and cases.

The joint course, to be a permanent feature in NUS Business School's undergraduate programme, is open to students who have successfully completed the Corporate Finance module in their second or third year of study. Associate Professor Anand Srinivasan, Head of the School's Department of Finance, said that third- and honours-year business students can take the banking course when they satisfy all the prerequisites.

The new course, already fully subscribed this year, admits up to 50 of the School's undergraduates. The students will be graded at the end of the course.

Mr Melvyn Low, Managing Director and Country Head for Citi Transaction Services Singapore said: "Transaction services have gained strategic importance for banks in recent years as more and more corporates are implementing transaction banking solutions to manage their cash positions across multiple jurisdictions and for moving money efficiently across borders. This, in turn, has increased demand for talent in transaction services, where we see a clear shortage."

The course, structured to offer a good balance between academic rigour and practical application, will help students learn the relevant practical skills to meet industry demand.

At an introductory session to transaction banking conducted by Citi, participating students found the content very practical. "It will be beneficial to my future career in finance," declared Final Year Accountancy student Nguyen To Giang.