DBS Bank - Innovation Is Part Of The Culture

DBS Bank - Innovation Is Part Of The Culture

Singapore’s DBS Bank is unique for using technology to make banking efficient, convenient and customer centric. The bank’s CEO Piyush Gupta had bet big on technology. Today, the bank has the largest application programming interface platform for third-party developers of any bank in the world.

Gupta had once said in an interview: “When we first started out along this road, we compared ourselves with emerging fintechs and the startup world and concluded that we really had to digitize completely, not just by putting on digital ‘lipstick’. We made killing paper a big mantra in the organization, for instance, and were determined to go beyond just tacking on a bunch of digital apps at the front end – that’s the easy bit. We wanted to go all the way through to middleware and the back end.”

The bank has set up an enterprise-wide Centre of Excellence (COE) in Robotic Process Automation (RPA), making it the first-of-its-kind large-scale implementation in the financial services sector in Singapore and the region. Since the center has gone live, the bank has optimized more than 50 complex business processes across the bank. The RPA program is now being progressively implemented in other markets including Hong Kong, China, India, Indonesia and Taiwan. The bank believes cognitive and robotics process automation is an important capability that will help with the necessary speed and agility to meet the rapidly changing demands of customers and the evolving financial services marketplace.