Is DBS a good bank?

Is DBS a good bank?

Dragon Ball Super is better than ever – Directo Z 1×08

The prestigious magazine Finanzas & Inversión conducted an extensive interview with us for its Digital Banking special on the Leaders of digital banking and the main trends in banking on the occasion of our banking trends report. The special with the full interview can be consulted here.

And from that first collaboration, they were inspired to do a special on voice banking, in which we were talking about chatbots, virtual assistants and smart speakers, with examples of entities that have already incorporated it as a new customer service channel.

Customers are becoming more and more demanding, we want speed, we don’t have to wait hours or even minutes to get certain information. In addition, we have our cell phone in our purse and pocket all day long, so accessing the bank from our cell phone is something natural.

Therefore, speed and convenience is what chatbots and virtual banking assistants provide to their customers, and it is an opportunity for banks to offer a positive customer experience and approach the younger group of customers to strengthen their relationship.

Dumbbell Bench Press / Dumbbell Bench Press – HSN

Singapore’s DBS Bank announced today that its brokerage arm, DBS Vickers, will now be able to provide digital payment tokenization services in Singapore as a mandatory payment institution under the country’s Payment Services Act. This is after the bank received approval in principle from the Monetary Authority of Singapore to provide such services recently.

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This comes on the heels of last week’s announcement that Australian cryptocurrency exchange Independent Reserve had received a similar grant, making it one of the first financial institutions to gain such approval from the agency.

DBS Bank, which is Southeast Asia’s largest lender, has been a pioneer in providing crypto services to Asian countries. It was notably one of the first traditional Asian banks to operate its own cryptocurrency exchange, DBS Digital Exchange (DDEx), which operates under a Recognized Market Operator license.

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When China had problems related to trade disruption, we were one of the first to introduce optical character recognition (OCR) and digitize all trade documents so that medical supplies, such as personal protective equipment, could go in and out. It was a quick turnaround. But if you are agile and open to experimentation, magic happens.

Su Shan Tan: In Singapore, there is a concept called kiasu, which means fear of failure. We reflected on how we could overcome that ingrained cultural mindset and said, “Wow, why don’t we leverage failures?” So we created the Dare to Fail and Dare to Ask for Money awards. In the face of outright failures, we asked the team, “What did we learn from that? How can we do better next time?”

Su Shan Tan: In 2014, my team wanted to use artificial intelligence (AI) to create a recommendation engine for our wealth management clients. We experimented internally and with clients, but getting the machine to answer questions like “should I buy Tesla or Apple stock?” or “where is the dollar going?” was difficult because the answers had to fit the context. They had to fit what the customer wanted, and we didn’t know if the answers would be right or wrong. We didn’t implement it for clients, but we allowed the experiment to happen because the team learned a lot about machine learning and AI. That same team is now helping us apply machine learning to data analysis.

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On the basis of assets, DBS bank is the largest of them. Therefore, the region’s largest bank launching cryptocurrency trading will drive cryptocurrency activity in the region by a good margin. During the bank’s fourth-quarter earnings call on Monday, CEO Piyush Gupta responded to the question of whether DBS will expand its digital asset exchange.

“Today what happens is you have 24/7, but customers still need to call and talk to bankers. So, the first order of business is to make it all online, make it self-service, make it instant and make sure the internal processes are robust to be able to support that.”

“At the same time, we’ve started working to see how we can sensibly take it out and expand it beyond the accredited investor base. And that includes making sure we have the right thinking around suitability, potential for fraud, etc.”

DBS Bank previously entered the cryptocurrency world with the launch of its cryptocurrency exchange in December 2020. Prior to that, the bank launched a cryptocurrency trust service in May.

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