DBS HONG KONG HERALDS ARRIVAL OF THE FUTURE OF BANKING WITH FIRST FULLY VIRTUAL WEALTH MANAGEMENT ACCOUNT OPENING

In a groundbreaking first that paves the way for the future of banking, DBS Hong Kong today officially launched the first fully virtual wealth management account opening solution. By leveraging breakthrough technology, including instant identity verification, biometric recognition, and state-of-the-art digital security, this first-in-market innovation offers new customers a true digital journey.

From the comfort and convenience of a smartphone, customers can set up a new multi-currency savings and wealth management account completely digitally. Investments and financial needs can be managed anytime and anywhere, with the peace of mind that comes from banking with DBS, which has been named Safest Bank in Asia by Global Finance for the past 11 years.

With our enhanced iWealth app, customers can invest straight away and enjoy these features:

• Invest in equities across 7 international markets
• Trade 14 foreign currencies in real time 24x7
• Transfer funds same day, across 42 destinations, with HK$0 fees

DBS Hong Kong CEO Sebastian Paredes said, “We have been working tirelessly to offer customers in Hong Kong the first fully digital solution to manage their wealth. This breakthrough is a great leapfrog forward in the nascent virtual banking landscape, and will allow DBS, the Safest Bank in Asia, to provide customers with a seamless digital journey.”

Ajay Mathur, Managing Director and Head of Consumer Banking Group and Wealth Management, Hong Kong, at DBS Hong Kong, said, “The first fully virtual wealth management account opening marks a turning point for time-pressed affluent customers in Hong Kong by saving them time previously spent at branches and completing paper forms. They are now able to open a wealth management account at their convenience and, what’s more, start investing straight away using the iWealth app on their smartphone. Managing their wealth digitally will mean DBS customers will always be a step ahead with opportunities. We have changed the way customers will now bank.”

DBS has been named World’s Best Digital Bank by Euromoney not once but twice.  DBS Hong Kong is committed to transforming the way banks serve, engage and interact with customers through FinTech innovation. Together with award-winning DBS Omni’s revolutionary instant credit card application solution, the ability to open and use a new wealth management account completely digitally, offers customers a whole new way to efficiently and effectively manage their valuable time and investment needs.

Download DBS’ iWealth app at https://go.dbs.com/hk-iwealth-app, start investing straight away, to enjoy cash rewards of HK$8,888.

[End]

About DBS

DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is 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. 

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.

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 our 27,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.