DBS India offers real-time payments to truck owners

Divyesh Dalal, Head - Global Transaction Services at DBS India, speaks about the recent trends in transaction banking business after the easing of the lockdown:

- Divyesh Dalal

Ravi Lalwani: What is the impact of covid, resultant lockdown and WFH on the existing transaction banking business? How has DBS Bank responded?

Divyesh Dalal: The pandemic has resulted in radical changes in the existing behaviors and has accelerated digitization. While it has impacted transaction banking flows, it has provided the opportunity for us to pivot a segment of our customers on to our digital channels. We have seen an increased acceptance of digital solutions as people opt for online banking over branch visits. We continue to provide online support to clients and enable them to sign up for these solutions and continue conducting their business as usual. Further, most of our digibank customers have continued transacting on our online channels.

What new opportunities have the lockdown created for transaction banking in India?