DBSRSS

DBS launches new cloud-based data centre

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DBS Bank has teamed with American multinational firm Equinix to make one of its traditional data centres in Singapore “cloud-optimised”. This will enable the bank to move its main data centre to smaller premises, which are a quarter of the size of its existing one – making it 75% cheaper to run, according to DBS. […]

DBS unveils “the world’s largest” banking API developer platform

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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

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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

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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-listed stocks can now be traded in London

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 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

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DBS Bank will automate its business spend management with Coupa Software’s cloud-based platform.

DBS unveils Singapore innovation lab

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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

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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

Singapore-listed stocks can now be traded in London

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 […]

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