DBS signals time has come for new kind of banking

SINGAPORE, 15 May 2018 – DBS Bank, a leader in digital transformation, today signalled that the time has come for a new kind of banking. After more than a decade of establishing its Asia heritage with “Living, Breathing Asia”, DBS is evolving its positioning to “Live more, Bank less”. Its bold new brand promise reflects the belief that in the digital era, it needs to deliver banking that is so simple, seamless and invisible, that customers have more time to spend on the people or things they care about. 

Said DBS CEO Piyush Gupta, “In the last 10 years, we have successfully established ourselves as a leader in Asia banking. While we remain rooted to Asia, Asia is rapidly changing, like the rest of the world. With the ubiquity of the smartphone, the explosion of data and the rise of the sharing economy, customer behaviours are dramatically different from what they were before. Customers want a new kind of banking. Having made reimagining banking a priority in the last few years, we believe we are well-placed to personify and embody banking of the future.”

From leadership in Singapore to leadership in Asia

Over the last 50 years, DBS has established itself as a leader not just in Singapore but also in Asia.

From the time of its founding in 1968 – three years after Singapore became an independent nation – the bank has pioneered many firsts that have revolutionised the banking landscape.

Since the introduction of “Living, Breathing Asia” in 2006, DBS has also established itself as a leader in Asia banking:

• Doubled the size of the bank. Between 2006 and 2017, DBS has more than doubled income to SGD 11.9 billion and nearly doubled net profit to SGD 4.39 billion.
• More than tripled market capitalisation. At end 2006, DBS’ market capitalisation was close to SGD 20 billion; today, it is about SGD 75 billion, putting the bank among the top 40 most valuable banks globally.   
• Only Singapore and Asian bank to be ranked among the top six wealth managers in the region; among the top five players for corporate banking.
• Only Asian bank with a presence in three key axes of growth – Greater China, South Asia and Southeast Asia.
• Recognised not only as “World’s Best Digital Bank” by Euromoney but also “Asia’s Best Bank” by esteemed publications such as The Banker, Euromoney, IFR Asia and Global Finance. Named “Safest Bank in Asia” by Global Finance for nine consecutive years. Topped the list of most valuable bank brands in ASEAN for six consecutive years with a brand value of USD 6.49 billion in 2018.

“Live more, Bank less” to define DBS’ next phase of growth

With the digital revolution, banking is being fundamentally redefined. At 50, DBS, like banking, is at a crossroads. The “Live More, Bank Less” ethos embodies the belief that the bank needs to remain at the forefront of change in the next 50 years.

“Live more, Bank less” encapsulates many aspects and DBS is intent on enabling its customers to:

• Live hassle-free with invisible banking
  • Embedding banking in the customer journey. With its strong focus on weaving banking into the daily lives of customers, the bank has launched car, property and electricity marketplaces in the last nine months. Customers looking to buy or sell their car, rent a property or choose an electricity provider can now do so on the DBS website. DBS’ API-driven architecture and strong focus on human-centred design and user experience help make banking simpler and more seamless.   
  • Creating a bank that is always with its customers. With DBS iWealth, customers in Singapore and Hong Kong can manage, transact and trade via their mobile phones 24/7. In India and Indonesia, digibank is paperless, signatureless and branchless, and an entire bank in the phone.
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 Seize life’s opportunities

• Customers in Singapore and Hong Kong are provided insights to better seize investment opportunities with DBS iWealth. This includes having access to sophisticated portfolio and performance analysis, as well as curated research and investment views contextual to their portfolio or preferences.
• SMEs with DBS BusinessClass have access to the latest market trends as well as a knowledgeable community of Asia’s business leaders, including venture capitalists and industry peers.
• Chief financial officers and corporate treasurers can manage and project their cash positions at the click of a button with Treasury Prism, the world’s first online treasury and cash management simulation tool.

Live larger than themselves

• Encouraging customers to live socially-conscious by making them more aware of various ways to do so.
• Providing the next generation with opportunities to come together to create innovative solutions that solve sustainability issues.
• Helping social entrepreneurs bring their ideas to life through grants, banking services, mentorship and by giving them a platform to share their work and pitch for funding. 

Brand campaign to kick off this week

 DBS will be rolling out a brand campaign in all its markets over the next two months, starting with Singapore this week. 

For more information on “Live more, Bank less”, please visit www.dbs.com/livemore

At the event, it was a surprise for all the attendees, DBS have specially invited MICappella to entertain us. 

In addition, we took photo with fellow bloggers / influencers with the ubersnap Photo Booth.