DBS Group announced, on Nov 2, that it will invest $300 million in 2022 to further bolster its digital and intelligent banking capabilities for its wealth and retail customers.
The sum, which represents a 14% y-o-y increase, will also go into enhancing hyper-personalised experiences across the bank’s digital and physical touchpoints.
In addition, the investment will go towards boosting the bank’s tech infrastructure and talent, embedding intelligent banking predictive technology in more financial solutions to better empower self-directed customers.
For a start, DBS says it will further entrench its intelligent banking predictive technology in its newly-launched client connect frontline advisory tool to empower financial advisors and relationship managers to better advise their customers.
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It will also look into scaling the use of intelligent banking across other key DBS markets and extend it to the bank’s PayLah! app.
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For instance, PayLah! users can look forward to personalised alerts, reminders and analyses that are customised according to their app and card transactions.
Sim S. Lim, group head of consumer banking and wealth management at DBS Bank says, “Our role as bankers is to grow the wealth, enable the success, and in that process, enrich the lives of our customers. We believe our intelligent banking capabilities have enhanced our ability to fulfil this – be it by empowering our customers to manage their money better, or equipping our relationship managers with the intelligence and insights required to provide best-in-class advisory.”
“It’s still early days, but we are confident in the value-add that intelligent banking can bring to the banking industry, and we are in this for the long haul. We’re committed to supercharging ourselves to become an Intelligent Banking powerhouse that customises banking for every individual customer, by delivering hyper-personalised journeys that pre-empt, support, and address their unique needs,” Sim adds.
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As at 4.46pm, shares in DBS are trading 16 cents higher or 0.5% up at $32.03.
Photo: Bloomberg
