DBS Case Study - Solution
DBS Case Study - Solution
Although DBS didn’t face any significant problems, some problems were to be seen when
analyzing the case was that, DBS bank faced was that it had low physical banking presence
in most of South and Southeastern countries. The bank faced several investments in
introducing new technology and developing an interface for mobile banking and other such
facilities. The bank had a total of 600 million in technology investments and another 200
additional investments annually.
DBS focused on banking markets in Singapore and other Asian countries. Since these
countries had different cultures and traditions the bank had to develop a mobile platform that
was not only stable but flexible as well, they had to also incorporate multilingual and
multicultural facilities in the app as well.
It was through the leadership Mr. Piyush Gupta DBS that helped DBS to become the Asian
Bank of choice. DBS created a new strategy to overcome this issue and build a strong
presence in Asian region with the use new technology and a strong data base they were able
to overcome the issue. At first Cash restocking in ATMS and machine to machine
communication was difficult and was an exhausting process using sensors and embedded
machines and analytics helped to predict customer patterns as well as helped reduce time
and effort. The case under study tries to evaluate the outcomes of these actions, and whether
it has added any value to DBS.
DBS was a well-established bank being one of the strongest and capitalized banks. It was
ranked as Asia’s most valuable brand in 2014 and is one of the largest finance trading
banks when considering market shares. DBS has used billions of dollars in establishing an
adequate infrastructure and 10 % of the money going into developing the mobile app.
DBS faced many complexities, such as customer satisfaction, culture of customers as the
bank focused on southern and southeast Asian markets, behavioral patterns of customers
etc. Such problems require a restructure of the existing system which was followed by
DBS by leveraging technological innovation as a driver for its goals. The innovation model
that needs to be followed is conceptual innovation. DBS had a technological innovation
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model that they used in order of the application of knowledge into several activates, ideas,
Big Data, Machine learning, AI etc.
3) Qualitative Data
1. DBS was one of the worlds strongest and well capitalized banks.
2. It was named the safest Bank in Asia.
3. DBS was named Asia’s most valuable brand in 2014.
4. It is the third largest bank in finance trade when considering market share.
5. They had five Pillar banking strategy.
6. DBS created a stable and Flexible platform, that was incorporated for their
multicultural and multilingual facilities.
7. In 2011 DBS launched a wealth Management Platform.
8. IDEAL was established by DBS which was their mobile banking platform.
9. Analytics and machine sensers allowed the devices to be more accurate.
10. DBS Became the first bank in Singapore to implement voice analysis technology
which allowed to identify calls which require longer handling times.
11. Launched wealth management system with integrated retail banking and private
banking functionalities such as multicurrency deposits, portfolio management etc.
12. UGOiGO was a microsite which helped in acquisition of new DBS customers.
4) Quantitative Data
1. 21,000 employees were based outside the home market in the beginning.
2. They spent 600 million annually on investments for technology and for creating an
mobile interface.
3. They also spent another additional 200 million for 3 years.
4. They spent billions of dollars in making infrastructure for their banking features.
5. 10% of the investments was made for the mobile app.
6. DBS wealth management income from 506 million USD in 2010 to 1.1 billion USD
in 2014, due to introduction of wealth management system
7. IDEAL internet and mobile banking platform were able to conduct 53.8 million.
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8. DBS Paylah had 200000 users within 6 months.
9. ATM cash outs were reduced by 90% with the help of accurate prediction of
customer withdrawal with the help of analytical techniques.
10. DBS mobile banking platform conducted 11 million transactions in 2014.
11. DBS income and earnings reached all time high value of 9.62 and 4 billion USD.
12. UGOiGO helped to increase customer acquisition by 147 percentage, compared to
normal acquisition techniques.
5) Analysis of Results
Through the evaluation of the case study on DBS it was understood that DBS had a large-
scale investment and innovation of their technology to provide a better customer experience
and a better customer interface. DBS faced a problem of having low physical presence, they
were able to overcome this issue by developing an integrated platform that were stable as
well as flexible which was able to deal with customers of different language preferability.
DBS had earned a name for itself through several prospects such as being the largest bank
in southeast Asia in terms of assets, by being the best bank in Asia pacific in 2016 etc. DBS
making investments in technology was a huge leap forward for the bank which led to their
development as well as paving way for the development of the economy as well.
1. The bank can expand to different markets other than Asia and try to identify
potential customers and try to understand their needs and wants.
2. DBS can further provide more additional services like fastags etc.
3. DBS can make use of artificial Intelligence.
4. They can make use of facilities provided by internet of things to further enhance
their existing technology as well as develop new technology.
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7) Select your preferred action plan
The most potential and flexible outcome for DBS to undertake for further development is
to incorporate internet of things into their activates. As expanding to different markets
requires further cost and expenditure as DBS already has to maintain several cost factors in
order to maintain their technology and interface. Expansion also requires further market
study which will lead to lose of time and energy as well. DBS can incorporate Internet OF
things into their already existing interface and technology and make their procedures and
services better. Incorporation of IOT would be faster in the case of DBS as they already
have an well-built interface and it would be better to build upon the existing technology as
it will be more cost efficient and which leads to less loss of resources.