Eight Singapore banks will participate in the initial launch of the Association of Banks in Singapore’s (ABS) eGIRO launch, an initiative to fully digitise the GIRO process.

The eight banks who will be part of the initial phase will be the Bank of China, DBS Bank/POSB, The Hongkong and Shanghai Banking Corporation Limited, Industrial and Commercial Bank of China, Maybank, OCBC Bank, Standard Chartered Bank and UOB Bank.