Singapore-based DBS Bank launched tab banking in India to help its customers in the SME segment to ease the account opening process. The new initiative named ‘AweSME Accounts’ will replicate the physical account opening form for SME accounts on the tablet. Amitabh Verma, head, SME Enterprise of the bank, said the initiative comes with in-built checks and balances that reviews the past data and ensures that the most frequent reasons for rejection are avoided, thus giving customers a smoother on-boarding experience. The bank hopes the initiative would help the SME customers open an account within four hours compared to the average industry time of 2-3 days.
