DBS Bank is leveraging artificial intelligence (AI) and information analytics in a bid to bolster its intelligent banking capabilities across digital banking services.
DBS combines predictive analytics and customer-centric design to transform data into hyper-personalised insights.
By doing so, it enables customers to manage their finances and investments with ease.
DBS’ intelligent manage engine generates up to 13 million insights per month.
It helps customers in improving financial planning, managing expenses, and making timely investments.
Additionally, DBS plans to launch a range of intelligent banking features in the first quarter of 2021.
This includes tailored equity stock suggestions and prompts that allow customers to transact via a single tap or swipe on their smartphones.
The existing DBS digibank and DBS iWealth platforms enable customers to manage their finances and investments through various features.
DBS digibank features a NAV Planner which offers personalised financial planning insights.
The platform sends alerts to customers in case of any unusual activity or higher bill payment amounts.
The DBS iWealth platform will provide customers with various kinds of smart triggers for investing.
This includes market insights, research expertise, and data-driven understanding of customers’ individual investments and preferences.
DBS Bank group head of consumer banking and wealth management Sim Lim said: “DBS’ digitalisation journey, which began more than six years ago, has always been centered around our customers.
“Through our Intelligent Banking capabilities, we have been laser-focused on delivering helpful and actionable insights that guide customers to make more informed financial and investment decisions – decisions that are even more crucial amid today’s uncertainties.
“Our aim is to not only improve our customers’ finances but also to ultimately be of tangible value to their lives.”
Last month, DBS partnered with Amazon Web Services (AWS) to roll out a gamified AI and machine learning training programme for its employees.