As DBS Bank celebrates their 50th Anniversary this year, a media conference with DBS CEO Piyush Gupta was held to share more insights of what to look forward to for the next 50 years.
|DBS CEO Piyush Gupta unveiling the bank's bold new promise, "Live more, Bank less"|
Photo Credit: DBS Bank
Said DBS CEO Piyush Gupta, "In the last 10 years, we have successfully established ourselves as a leader in Asia banking. While we remain rooted to Asia, Asia is rapidly changing, like the rest of the world. With the ubiquity of the smartphone, the explosion of data and the rise of the sharing economy, customer behaviours are dramatically different from what they were before. Customers want a new kind of banking. Having made reimagining banking a priority in the last few years, we believe we are well-placed to personify and embody banking of the future."
From leadership in Singapore to leadership in Asia over the past 50 years
From the time of its founding in 1968, DBS Bank has pioneered many firsts in the banking industry and has grown doubled the size of the bank in terms of income and net profile with more than tripled market capitalisation of about SGD 75 billion, putting the bank among the top 40 most valuable banks globally. DBS Bank is also the only Asian bank to be ranked among top 6 wealth managers in the region; among the top 5 players for corporate banking and with a presence in three key axes of growth - Greater China, South Asia and Southeast Asia. Not only that, DBS Bank also topped the list of most valuable bank brands in ASEAN for the 6 consecutive years with a brand value of USD 6.49 billion in 2018.
"Live More, Bank Less" to define DBS Bank in their next phase of growth
Some of you might be wondering, why would a bank want their customers to bank less? This is to adapt to the changes in the next 50 years, the "Live more, Bank Less" ethos encapsulates many aspects with the intent on enabling customers to:
Live hassle-free with invisible banking
- Embedding banking in the customer journey.With its strong focus on weaving banking into the daily lives of customers, the bank has launched car, property and electricity marketplaces in the last nine months. Customers looking to buy or sell their car, rent a property or choose an electricity provider can now do so on the DBS website. DBS' API-driven architecture and strong focus on human-centred design and user experience help make banking simpler and more seamless.
- Creating a bank that is always with its customers. With DBS iWealth, customers in Singapore and Hong Kong can manage, transact and trade via their mobile phones 24/7. In India and Indonesia, digibank is paperless, signatureless and branchess, with the entire bank in the phone.
Seize life's opportunities
- Customers in Singapore and Hong Kong are provided insights to better seize investment opportunities with DBS iWealth. This includes having access to sophisticated portfolio and performance analysis, as well as curated research and investment views contextual to their portfolio or preferences.
- SMEs with DBS BusinessClass have access to the latest market trends as well as a knowledgeable community of Asia's business leaders, including venture capitalists and industry peers.
- Chief Financial Officers and corporate treasurers can manage and project their cash positions at the click of a button with Treasury Prism, the World's first online treasury and cash management simulation tool.
Live larger than themselves
- Encouraging customers to live socially-conscious by making them more aware of various ways to do so.
- Providing the next generation with opportunities to come together to create innovation solutions that solve sustainability issues.
- Helping social entrepreneurs bring their ideas to life through grants, banking services, mentorship and by giving them a platform to share their work and pitch for funding.
At the end of the presentation, there is an interactive Q&A session which they've made use of the digital platform that enables audiences to anonymously submit their questions via the mobile phone. By using this method, it helps to overcome the the awkward situation where no questions were raised as Singaporean are typically shy.
After the Q&A session, we all let out hair down by having our local a cappella group, MICappella to sing a few songs for us. It was really great fun!
We ended the event by taking some gif photos from the photobooth which can be printed out. So interesting.
Brand campaign to kick off this week
DBS will be rolling out a brand campaign in all its markets over the next two months, starting with Singapore this week.
Go watch their campaign video that is really catchy and I can be sure their tagline and tune will be stuck in your head for a while.
|DBS CEO Piyush Gupta with the DBS team at the launch event|
Photo Credit: DBS Bank
Being a customer of DBS Bank, I will definitely welcome this bold change. I especially look forward to the collaboration with Carousell as I'm an active user there. For more information on "Live more, Bank less", please visit