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 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 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 […]