Singapore’s DBS Bank has introduced a new holistic digital financial advisor tool, called Your Financial GPS.
The solution is available for all DBS/POSB customers through DBS/POSB iBanking and digibank apps.
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Being integrated with the DBS/POSB iBanking and digibank apps, the digital financial advisor is capable of analysing customers’ bank account activity categorising income and expenses.
It will also provide an overview of the customer’s set budgets as well as enable them to keep a track of their long-term financial goals.
Furthermore, the solution can provide personalised financial advice to the customers based on their current position and guide them with their savings and investment portfolio.
DBS Singapore Financial Planning Group head Brandon Lam said: “When we launched NAV Hub last year, we wanted to offer our customers a no-sales environment where they can embark on their financial planning journeys.
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By GlobalData“The new Your Financial GPS advisor, which puts the bank’s financial planning expertise at one’s fingertips, mirrors the same ease and we hope it will help people make sensible decisions about their money clearly and easily, so that they can spend more time enjoying life and with the people who truly matter.”
Your Financial GPS is developed based on a feedback from customers and after analysing huge volumes of user data and behavioural activity.
The solution was first launched in January this year as a pilot project to nearly 300,000 customers aged between 21 and 35.
