DBS targets 30% reduction in corporate cheque payments by 2020

[1][2][3][4]^[1] More than 700,000 retail bank accounts are now linked to PayNow and PayNow has recorded about SGD 370 million in transaction volume as of January 2018. Source: Association of Banks Singapore^[2] PayNow is a peer-to-peer funds transfer service available to customers of seven participating banks in Singapore who make up the majority of all retail transactions. Source: https://abs.org.sg/docs/library/paynow_factsheet.pdf^[3] IDEAL RAPID is DBS’ application programming interface (API) gateway^[4] FAST (Fast And Secure Transfers) is an electronic funds transfer service that enables customers of the participating banks to transfer Singapore Dollar funds from one bank to another in Singapore almost instantly. Source: https://abs.org.sg/consumer-banking/fast[End]About DBS
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for nine consecutive years from 2009 to 2017.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of its 24,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.