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DBS conferred as world’s best digital bank

dbs 1DBS Bank has been conferred as world’s best digital bank by finance magazine Euromoney at its annual Awards for Excellence. The magazine has also named the bank as Asia’s best bank. Euromoney cited the pervasive nature of DBS’ digital strategy, which has spread across all aspects of the bank, from corporate and consumer banking to the DBS Foundation. DBS CEO Piyush Gupta said the bank’s recent coup in being named the world’s best digital bank is a testament to the strides it has taken in transforming the bank’s core systems and culture. Since 2009, the bank has spent almost a couple of billion dollars on rebuilding its core banking systems and IT architecture, which has enabled it to be nimbler and develop new applications, products and services much faster than before. While the big investments are out of the way, DBS still has work to do in getting its tech infrastructure to the next level, Gupta said.

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