DBS Group Holdings Ltd

Annual Report 2022

DBS Group Holdings Ltd

Annual Report 2022
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Thinking
more like
a customer,
 less like
a bank

DBS is committed to putting the customer at the heart of the organisation, so they can "Live more, Bank less" and have more time to spend on the people and things they care about.

1

1

Leveraging AI/ ML to help customers make better financial decisions

DBS' AI/ ML models generate hyper-personalised nudges that guide customers to make better investment decisions and do financial planning. Every month, we send out 45 million nudges to some five million customers across the region to aid their financial decisions.

2

2

Meeting unmet working capital needs among micro and small businesses

To help small businesses navigate the rising interest rate and inflationary environment, DBS proactively reached out to pre-identified customers to offer almost instant access to financing of up to SGD 300,000. Through hyper-personalised AI and data analytics, the “DBS Quick Finance” application process was reduced to just one minute to apply, one second to approve, and in some instances, even instant disbursement, with no additional paperwork.

3

3

Unlocking wealth management opportunities for GBA investors

DBS Bank (Hong Kong) partnered Shenzhen Rural Commercial Bank to provide qualified Greater Bay Area (GBA) mainland investors with Wealth Management Connect (WMC) Southbound services. The combined expertise of the two banks will help customers manage their wealth and provide them with access to customised diversified investment products, services and digital banking capabilities. DBS Hong Kong is the only bank with three Southbound partners under the WMC scheme.

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4

Introducing on-demand digital trade financing solutions

DBS Hong Kong, in partnership with GS1 Hong Kong, introduced an on-demand digital trade financing solution powered by alternative data. By leveraging GS1 Hong Kong's EzTRADE data and DBS’ digital capabilities, SMEs are able to access working capital and funding with minimal hassle. This solution redefines the trade financing journey for SMEs by streamlining the credit assessment process.

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5

Helping customers navigate rising living costs

DBS was the first bank in Singapore to launch a fight inflation package in August, equipping those earning less than SGD 2,500 a month with a suite of solutions to stretch their dollar. We raised interest rates for our bank-and-earn solution Multiplier, making it easier for customers to earn more rebates on their everyday spend so they can get more cashback. We were also the only bank that offered a competitive Housing Development Board housing loan that is on par with HDB’s concessionary loan rate. More recently, we announced that we would subsidise five million hawker meals over a 12-month period until January 2024.