Singapore’s DBS Bank has partnered with Pivotal Software to step up its digital transformation and accelerate innovation for customers.

As per the agreement, DBS will run cloud native applications on Pivotal Cloud Foundry.

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The bank will leverage Pivotal’s cloud platform to operate and deliver services to its customers faster, as well as build and update next-generation applications in order to deliver a better banking experience to users.

The bank said that the built-in automation of Pivotal's cloud platform will allow it to focus on delivering differentiated value, instead of being caught up with systems management and IT resource procurement.

To start with, the lender will leverage the Pivotal solution to build next-generation credit risk management systems and fund transfer pricing systems for the bank.

Under the partnership, Pivotal will provide bank’s application development team with software development services of Pivotal Labs.

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DBS head of group technology and operations David Gledhill said: “Like many traditional industries, the banking sector is being disrupted by agile start-ups and fintech companies that are delivering a differentiated experience to customers. To compete effectively against these new entrants, DBS must have the ability to be responsive to customers. Pivotal Cloud Foundry gives us the software platform to think and act like a technology company and innovate at start-up speeds.”

Pivotal APJ vice president and managing director Lionel Lim said: “The banking industry has long been saddled with legacy systems that can hinder the speed of innovation.

“DBS is a progressive bank that is laying the right foundation to digitally transform their operations to innovate like a software company. We are pleased to collaborate with DBS on this important transformation milestone.”