DBS Innovation increasingly results in Singapore’s largest lender being recognised as a world class leader in digital transformation. And so it proves at the 10th annual Retail Banker International Asia Trailblazer Awards on 7 March.

DBS collects nine awards at the event, more than any other bank.

At the heart of DBS innovation is a cultural transformation centred on the customer experience.

DBS CEO Piyush Gupta says that the culture of the lender is more like a tech company than a bank.

In data optimisation, AI and machine learning, natural language processing, blockchain and ecosystem partnerships, DBS Innovation is truly world class.

Leading examples of DBS innovation in 2018 include:

The Startup Xchange programme:

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This matches DBS and its corporate/SME clients to startups with cutting-edge technology solutions. It enables both parties to co-create solutions and address business problem statements in real-time. The four core pillars of technology the platform focuses on are: AI, data science, Immersive Media and the Internet of Things.

Since its pilot launch, Startup Xchange has successfully matched 21 startups with units within the bank (e.g., Human Resources). And it is helping he bank’s SME clients to solve business pain-points. This has resulted in the successful rollout of 10 emerging technology solutions to-date. Another 10 solutions are expected to launch in 2019.

DBS MAX

This removes the need for physical payment terminals, replacing them with mobile phones. This is a mobile app designed for SMEs enabling customers to scan and make payments in real-time.

Pop-Up ATMs

This offers higher note capacity compared to other ATMs catering for heavy usage during the Chinese New Year. A total of 42 Pop-Up ATMs were installed at 20 community clubs island-wide.

DBS QR Ang Bao

This saves users from the hassle of getting new notes. At the same time, it retains the tradition of giving red packets. The act of giving and receiving red packets (ang baos) is a key part of celebrating Chinese New Year. The latest DBS Innovation does away with the need for notes entirely. The DBS QR Ang Bao allows users to load a cash value onto a QR slip. Moreover, this is the first time anywhere this functionality has been introduced via QR codes.

DBS collect the award for Best Retail Bank Singapore at 10th annual RBI Asia Trailblazer Awards