DBS and digitalisation: what the West can learn from the East
“Meaningful innovation is the true litmus test,” says DBS’ Shee Tse Koon.
DBS
Sibos 2021: Net-zero commitments from banks and governments “need to have teeth”, says panel
How finance can tackle climate change has been a key topic at Sibos this year.
Video: pick of the week – new payments system in Singapore, Bank of Ireland tech hires
A top pick of stories from the world of finance and tech in bitesize video format, weekly.
DBS evacuates 300 employees after one catches coronavirus
Singapore has reported 58 cases of the new virus so far.
DBS launches QR-code based b2b payments
DBS’ QR-code based solution is powered by DBS Rapid and DBS Max.
Picturewealth co-founder says VCs don’t understand profit when it comes to start-ups
Neal Cross reveals the flaws in fintech start-up’s pitches today.
soCash raises $6m in Series B
The round was led by Glory Ltd, SC Ventures and Vertex Ventures to expand their footprint.
Swift unveils e-voting PoC on blockchain
Alongside SLIB, SGX, Deutsche Bank, DBS, HSBC and Standard Chartered.
DBS chief innovation officer Neal Cross leaves for fintech start-up
Calls time on five lively years and moves to PictureWealth.
DBS switched on for Suzhou start-ups
Bank stays busy via MoU and yearns for playtime at Suzhou Industrial Park.
Hong Kong banks setting up trade finance blockchain platform
With ambitions of expansion across industries and jurisdictions.
Case study: DBS – the edge
DBS is shaping up to be a fintech innovator. What projects is it working on?
Banking Technology July/August 2018 issue out now
Deep minds. For fintech that matters.
DBS jumps on Carousell for mobile payments ride
Invests in classifieds marketplace’s latest fund raising round.
DBS dangling digital payments bait to corporate clients
Targets 30% reduction in corporate cheque payments by 2020.
TSB joins lendtech race with Business Marketplace
Plans to become UK’s first high street lender to link to rival’s digital deals.
Top fintech stories this week – 1 December 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
DBS creates lifestyle branch for tech generation
In a move to attract the tech generation to branches, Singapore’s DBS has launched a “lifestyle space” providing freshly brewed coffee, interactions with humanoid robots and a virtual reality (VR) area for retirement planning.
DBS launches new cloud-based data centre
DBS Bank has teamed with American multinational firm Equinix to make one of its traditional data centres in Singapore “cloud-optimised”.
DBS unveils “the world’s largest” banking API developer platform
Singapore-based DBS has launched its API developer platform, which it describes as “ the world’s largest” in the banking space.
DBS readies for IFRS 9 with Z-Risk Engine roll-out
Singapore-based DBS is deploying Aguais and Associates’ (AAA) Z-Risk Engine (ZRE) to generate future credit losses on the bank’s wholesale credit portfolio, as it complies with imminent IFRS 9 requirements. According to AAA, the new financial regulations, effective from 1 January 2018, call for banks and other lenders to deliver a regular, predictive point-in-time (PIT) […]
Swift’s gpi powers DBS cross-border payments tracking debut
Corporates and SMEs in Singapore and Hong Kong can now track their cross-border payments via DBS, using Swift’s global payments innovation (gpi). DBS says it is the first bank in the two countries to execute cross-border payments with end-to-end tracking, “helping corporates and SMEs become more efficient in their cash management”. In the past, DBS […]
Paper put in place by Singapore’s simpler banking plan
Singapore is piloting a new initiative to let people apply for a bank account without needing to submit supporting documentation. The Smart Nation and Digital Government Office, Government Technology Agency and Monetary Authority of Singapore, have begun a pilot with four banks to explore simplifying online banking transactions with the use of the government’s MyInfo […]
Singapore’s POSB launches banking chatbot
POSB, one of Singapore’s oldest banks and part of the DBS Banking Group, has launched an online virtual assistant. It is powered by the KAI conversational bot/AI platform from a New York-based fintech start-up, Kasisto.
DBS Bank to replace legacy procurement tech with Coupa’s cloud platform
DBS Bank will automate its business spend management with Coupa Software’s cloud-based platform.
DBS unveils Singapore innovation lab
DBS has launched its Singapore innovation lab – DBS Asia X (or DAX) – as it looks to speed up change in its organisation. Neal Cross, chief innovation officer at DBS Bank, says the bank is “not known for taking huge risks or making massive pivots” but now it wants to “inculcate start-up mindsets”. DAX […]
DBS to acquire ANZ retail and wealth business in Asia
Singapore-based DBS Bank is buying the retail and wealth business of Australia and New Zealand-based banking group, ANZ, in Singapore, Hong Kong, China, Taiwan and Indonesia for about SGD 110 million ($79 million) “above book value”. The exact figure has not been disclosed, but the portfolio represents total deposits of SGD 17 billion ($12.2 billion), […]
Banks behaving badly in Singapore
The Monetary Authority of Singapore (MAS) is withdrawing the merchant bank status of Falcon Private Bank’s Singapore branch for “serious failures” in anti-money laundering (AML) controls and “improper conduct” by senior management at the head office in Switzerland as well as the Singapore branch. MAS is also imposing financial penalties on DBS Bank and UBS’s […]
DBS heads to cloud with Amazon Web Services
Singapore-based DBS Bank has signed an agreement with Amazon Web Services (AWS) to use its cloud technology. The bank envisages shifting up to 50% of its computer workload to cloud within a two-year period. With this deal, DBS will create a hybrid cloud environment “optimised” for rapid changes of capacity and functionality, which is “complementary” […]
Mainstream fintech in India: a bird’s eye view
Soumik Roy, Banking Technology’s editorial contributor based in India, explores India’s digital banking landscape, examines innovative players like DBS digibank, and ponders what’s next for the nation’s fast-paced fintech sector. Electronic banking and payments are rapidly picking up pace in India; citizens love the convenience, the government hopes it will drive transparency and reduce the […]
Fintechs be nimble, fintechs be quick, but DBS prefers the cloud trick
DBS Bank says it is the first Singapore bank to adopt cloud-based productivity technology, Office 365, in the workplace. The bank says its “early” adoption of cloud among financial sector players comes amid Singapore’s “smart nation drive as well as a digital revolution that is redefining the banking industry”. DBS says fintech pose an “increasing […]
High five for Apple Pay in Singapore
Apple Pay support is expanding beyond American Express to Visa and MasterCard credit and debit cards from five of Singapore’s major banks. The big banks include POSB, DBS, OCBC, Standard Chartered and UOB. This latest deal is a significant development for Apple as it now has more than 80% of the Visa and MasterCard credit […]
DBS Bank Singapore overhauls anti-crime tools
Singapore’ DBS Bank has begun a major overhaul of its financial crime prevention strategy, as the bank seeks to upgrade its suspicious activity monitoring, due diligence and risk tools.
