Singapore-based DBS Bank has unveiled digibank – a digital-only bank designed specifically for mobile.
The new solution is paperless and signatureless, and brings together a suite of new technologies, from biometrics to artificial intelligence. Customers will be able to converse with digibank’s AI-powered virtual assistant to get their queries answered, while an intelligent financial planning and monitoring feature helps customers to be smarter with their money.
Digibank also has an embedded soft token security, avoiding the need to wait for SMSs to arrive and providing even stronger security for transaction authorisation. Soft token is a dynamic inbuilt security which is safer than OTP.
Customers will also benefit from the regional connectivity that DBS offers. This includes the ability to make cash withdrawals in Singapore at any DBS and POSB ATM, without any fees.
Piyush Gupta, CEO of DBS, said: “A few years ago, we would not have imagined that it would be possible to launch an entire bank in a mobile phone. With digibank, we’ve built a bank that pulls together the power of biometrics, natural language, artificial intelligence and in-built security in one offering.
“We believe this mobile-led offering represents the future of banking, and are excited to introduce this in Indonesia, a core market for us in Asia.”
Latest News
-
British financial sector optimism falls at fastest rate since 2022 amid Budget concerns
-
TransUnion to buy Monevo
-
Global banks to axe 200,000 jobs by 2030 as AI takes over human tasks, finds Bloomberg
-
Lloyd's of London chief executive officer Neal to step down in 2025
-
JPMorgan becomes final major Wall Street bank to exit climate alliance
-
Visa and Qashio partner on B2B travel payments solution
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
Legacy isn’t the enemy: what FSIs can do to keep their systems up and running
In this webinar we will examine some of the steps FSIs have already taken to rigorously monitor and test systems – both manually and with AI-powered automation – while satisfying the concerns of regulators and customers.
Optimising digital banking: Unifying communications for seamless CX
In the digital age, financial institutions risk falling behind their rivals if they fail to unite fragmented communications ecosystems to deliver seamless, personalised customer experiences.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories