Through the adoption of Pivotal’s leading modern cloud platform, Pivotal Cloud Foundry, DBS will have the foundation to innovate at a speed and velocity primarily associated with Internet giants such as Google, Facebook and Netflix. More specifically, by leveraging Pivotal’s cloud platform in its banking architecture transformation, DBS is now able to operate and deliver services to its customers exponentially faster, as well as build next-generation applications and user experiences rapidly, and update them with new features that will evolve with customer needs.
Through this collaboration, DBS is set to reinvent banking and redefine the banking experience for over 6 million consumer and corporate customers across Asia.
Said DBS Head of Group Technology and Operations David Gledhill: “Like many traditional industries, the banking sector is being disrupted by agile start-ups and fintech companies that are delivering a differentiated experience to customers. To compete effectively against these new entrants, DBS must have the ability to be responsive to customers. Pivotal Cloud Foundry gives us the software platform to think and act like a technology company and innovate at start-up speeds.”
The built-in automation of Pivotal’s cloud platform also means DBS can now focus on delivering differentiated value, instead of being caught up with systems management and IT resource procurement. As a start, DBS is leveraging the Pivotal solution to build next-generation credit risk management systems and funds transfer pricing systems for the bank, as well as other systems.
The move to adopt the cloud platform for application development underlines DBS’ commitment to digitally transform its operations from the front office to back-end processes, advancing its march to become a software company. As part of the collaboration, Pivotal is also working with DBS to equip the bank’s application development team with the next-generation software development services of Pivotal Labs, entrenching the culture of software innovation, usually associated with Silicon Valley’s most influential companies, right in the heart of a Singapore-headquartered bank.
“The banking industry has long been saddled with legacy systems that can hinder the speed of innovation,” said Lionel Lim, Vice President and Managing Director, APJ, Pivotal. “DBS is a progressive bank that is laying the right foundation to digitally transform their operations to innovate like a software company. We are pleased to collaborate with DBS on this important transformation milestone.”
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About DBSDBS - Living, Breathing AsiaDBS 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 capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for seven consecutive years from 2009 to 2015.
DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. 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 our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
