Tag: DBS Bank

India – DBS Bank India and television channel CNBC-TV18 have teamed up to launch the ‘India-Singapore Connect’ initiative, now in its 30th Year in India. This media initiative will celebrate and deepen bilateral relations between India and Singapore, and will bring together stakeholders from diverse sectors in both countries to identify synergies and create opportunities for charting a mutually beneficial way forward.

Since opening its first office in Mumbai in 1994, DBS Bank has now been present in India for 30 years. The bank’s partnership with CNBC-TV18 to launch the ‘India Singapore Connect’ is also a celebration of this milestone, by further deepening the dialogue and the exchange of ideas and best practices. 

This effort will spread over the rest of the year and will also leverage DBS Bank’s established linkages in both Singapore and India to include perspectives from government leaders, CEOs, entrepreneurs, economists and opinion leaders that will help contextualise key themes that are relevant to this corridor, covering regional trade, investment flows, innovation, emerging technology, sustainable development and cross cultural interests.

This milestone program will kickstart with a curtain raiser episode featuring an interview with Piyush Gupta, CEO and Director, DBS Group, led by Shereen Bhan, Managing Editor, CNBC-TV18, focusing on how the paradigm of the India-Singapore corridor has evolved and how its strengths can serve as a blueprint for developing successful economic and people-to-people relationships between the nations. It will conclude with an exclusive event – the ‘India-Singapore Connect Summit’ to be hosted in Mumbai, which will see thought leaders and dignitaries from across the region share insights and actionable pathways for inclusive growth.

Surojit Shome, managing director and CEO at DBS Bank India said, “As we celebrate three decades of growth in the country, DBS Bank reaffirms its commitment to India and to continuing to deliver value to customers as a trusted partner over many more decades to come.”

He added, “We envision the ‘India-Singapore Connect’ to be both a celebration of strong bilateral ties, while also looking ahead to further deepen existing relationships and forging new ones through meaningful interchange between both countries. As the largest bank in Southeast Asia, it is a privilege for DBS to be able to catalyse greater collaboration between India and Singapore.”

Meanwhile, Shereen Bhan, managing editor at CNBC-TV18, commented, “As India’s premier business news platform, we at CNBC-TV18 are passionate about curating meaningful conversations and focusing on issues that matter. We are proud to partner with DBS Bank India on the ‘India-Singapore Connect’ campaign that touches upon many transformational trends, as seen through the eyes of corporate and cultural leaders in two of Asia’s fastest-growing economies. It presents us with an invaluable opportunity to combine forces with DBS Bank to help develop an important bilateral relationship.”

Singapore – Singaporean bank DBS has recently unveiled its metaverse concept for ‘DBS BetterWorld’, a gamified adventure that leverages the use of the metaverse as a force that promotes sustainability.

In line with the ‘Towards Zero Food Waste’ initiative of DBS in 2020, the virtual experience highlights the global food waste challenge and what Businesses for Impact supported by the DBS Foundation are doing to address the issue.

As part of the experience, players must complete a series of activities inspired by five Businesses for Impact supported by the DBS Foundation and their unique approach to mitigating food waste. 

The five businesses involved are upcycling craft beer makers Brewerkz and Breer, sustainable food retail store GreenPrice, and urban farming practitioners Edible Garden City and Rooftop Republic.  

Players based in Singapore will be treated to extra rewards which can be redeemed via special QR codes accessed using DBS PayLah!. DBS has also included easter eggs for players to discover, including cameo appearances by characters from the bank’s web series, ‘Sparks’. DBS BetterWorld will be accessible to the public once the sandbox’s alpha season 4 is launched.

Karen Ngui, head of group strategic marketing and communications at DBS, and board member of DBS Foundation, said, “DBS believes that it is possible to leverage the metaverse as a force for good. It can be harnessed as an interactive platform to increase awareness of important ESG issues and creatively spotlight those who are finding innovative ways to address them.”

“For starters, with DBS BetterWorld, we have chosen to delve into the challenges of food waste and food resilience, issues that DBS and the DBS Foundation have been championing, in a unique and engaging way. As metaverse technologies mature, we hope to create mechanisms for communities and businesses to translate the outcomes of their virtual initiatives to real world impact,” she added. 

Singapore – GoTo’s on-demand multiservice tech platform Gojek entered into a partnership with yuu Rewards Club and DBS Bank to bring exclusive loyalty rewards and benefits to its users in Singapore. 

This collaboration will allow Gojek users across all service types, including discounted voucher trips, to be rewarded with yuu points when paying for their rides using a DBS yuu card or PAssion POSB debit card. 

DBS yuu card members can now earn up to 37 points or 18.5% cash rebates for every $1 spent on Gojek rides. Meanwhile, PAssion POSB Debit Card members can get as much as 15 yuu points or 7.5% cash rebates for every $1 spent on the same service. On top of this, users of both cards are also eligible for an additional limited-time bonus reward when they complete their first transaction on Gojek. 

Launching exclusively in partnership with DBS Bank, the collaboration will also see Gojek formally enter the loyalty space, providing rewards for users and paving the way for deeper long-term integration with yuu. 

Lien Choong Luen, general manager at Gojek Singapore, said, “Gojek was built with powerful partnerships at its core, and the belief that together we will go far remains fundamental across GoTo. I’m delighted to be collaborating with industry leading partners yuu and DBS to go the extra mile for our customers and passengers – helping them to earn on their everyday spend by turning rides into rewards and rebates.” 

“In 2019, we launched in the Singapore market with DBS as our preferred payments partner and we’re delighted to be further strengthening our partnership to launch loyalty rewards exclusively, initially for DBS yuu Card and PAssion POSB Debit Card holders,” he added. 

Further commenting on the partnership, Sng Ren Yeong, CEO of minden.ai, said, “At yuu, we’re always seeking new ways to help consumers unlock greater value on their everyday spend. With Gojek onboard, yuu members will be able to stretch their dollars, not only across retail, food, and attractions, but also their daily commute. By partnering with a diverse ecosystem of like-minded brands, yuu is able to offer more options for consumers to earn while they spend and accumulate points at a faster pace.” 

“As a leading on-demand ride-hailing service in Singapore, Gojek has always been progressive and highly-attuned, sharing the same customer-first philosophy as yuu, making this partnership a natural fit. We look forward to delivering more value to consumers alongside Gojek and DBS,” he continued. 

Meanwhile, Anthony Seow, head of payments and platforms at DBS Bank Consumer Banking Group, said, “We are happy to deepen our longstanding partnership with Gojek, which has provided our customers more convenience when booking and paying for their Gojek rides via our PayLah! app.” 

He further added, “with Gojek joining the yuu rewards ecosystem, DBS/POSB customers can now use their DBS yuu Card or PAssion POSB Debit Card, two of our most popular cards for everyday spending, to rack up more yuu points which can then be used to offset their Gojek rides, on top of their expenditure on groceries, F&B. Together with our partners, we will continue to explore new avenues to provide our customers with more rewards and privileges and help them to save more.” 

India – DBS Bank India has unveiled its latest ‘One DBS’ brand campaign that captures the new benefits to customers from the expanded branch network across the country, with banking solutions for both individuals and businesses. 

The campaign featured a fast-paced brand film titled ‘Live More, Bank Less’ that talks about the bank’s ability to up the ante with the combination of its enlarged physical presence and much-awarded digital expertise. The campaign was made with Leo Burnett, who also led the film production and conceptualisation.

‘Live More, Bank Less’ also featured creative visuals highlighting DBS Bank India’s pan-Asia and pan-India presence, reiterating its position as the bank of choice when it comes to Asian connectivity. In addition to the expanded scale, the brand film builds on its purpose and commitment to responsible banking and expertise in sustainable finance.

Elaborating on the campaign, Shoma Narayanan, managing director – group strategic marketing and communications at DBS Bank India, said, “We are thrilled to announce the launch of our latest brand campaign that builds on the differentiator of our ‘phy-gital’ offering. DBS occupies a unique space in the Indian market and is the largest foreign bank in India by branch presence.”

She added, “Our new campaign underscores how we can bring together the best of both our global expertise and wide, local network to leverage our enhanced scale and create the best customer experience. As a purpose-driven bank, DBS is now uniquely positioned to harness our deep, regional insights and digital proficiency to deliver exceptional value to not only individuals and businesses across the country, but also to the community at large.”

Mayuresh Dubhashi, group executive creative director at Leo Burnett, also commented, “From an expanded presence in over 500 branches to being recognized as Asia’s safest bank for 14 years in a row, to being a trusted partner for small and big businesses; it’s truly a story of a bank that has a whole lot to offer, that lets you live more. A story told the DBS way.” 

The brand film will be promoted via a 360-degree campaign, including TV, outdoor, and digital media.

Singapore – In its recently released Bank and Payment Brand Rankings 2022, market research company YouGov unveiled that local banks DBS and POSB have snagged the top spot in Singapore. 

DBS led the list with a total score of 41.0, followed by POSB at 34.2 points. Digital payment company VISA came in third place with a score of 26.8 while Singaporean bank OCBC followed closely at 26.1.

Completing the top ten is Mastercard at 25 points, commercial bank UOB with 22.9 points, Paypal with 22.1 points, Citibank with 14.7 points, Standard Chartered Bank with 12.5, and American Express at 9.8 points. 

YouGov also revealed the most improved brands in the financial services sector, including Paypal and digital banking app Revolut, both with a +1.1 change in score. Other banks on the list are Mastercard and UOB, who had improved scores of +0.3 each.

The rankings are based on YouGov BrandIndex’s positive consideration score, which measures the percentage of a brand’s customers who would consider it when next in the market to make a purchase.

The brands were ranked between October 1, 2021, and September 30, 2022. Moreover, the scores were rounded to a single decimal place with additional precision to assign ranks.

Meanwhile, the improvers were determined by their change in score between the said period and the previous twelve months. 

YouGov has also previously released the overall brand rankings in Singapore, unveiling Singapore Airlines as the top brand for 2022.

Hong Kong – In line with their commitment to providing sustainable financing solutions to SMEs, consumer bank DBS in Hong Kong and investor-owned power business company CLP Power Hong Kong have partnered to help companies, regardless of their scale, transition to more sustainable business models.

Both companies have recognised the need to make sustainable financing solutions more accessible to SMEs, as sustainable financing tends to be rarer amongst SMEs, who are often constrained by the lack of resources, time, expertise, and funds. This also applies to energy audits, which often require expertise and additional funding.

To help alleviate these challenges, DBS Hong Kong and CLP Power will be offering flexible and innovative financing loan solutions to businesses. These solutions are pegged to CLP Power’s energy-saving services, which include sustainability performance targets (SPTs). SPT performance is measured with reference to the assessment methodologies under CLP Power’s present energy-saving funding schemes. 

By combining CLP Power’s comprehensive energy expertise with DBS’ extensive experience in strategic green advisory and financing, the two companies will be able to deliver comprehensive support and capital for clients, allowing them to invest in enhancing energy efficiency and expanding their businesses sustainably.

Jolynn Wong, head of business banking at DBS Bank Hong Kong, noted, “This marks DBS Hong Kong’s first SME banking package that comes with a pricing discount upon the completion of [an] energy audit with CLP Power.”

Meanwhile, Lena Low, senior director of customer success and experience of CLP Power, commented that as a trusted energy partner for business customers, CLP Power has introduced different energy management solutions such as energy audit service and offers different subsidy schemes to assist their customers to enhance energy efficiency and reduce carbon emissions. 

“We are excited that these initiatives are being recognised to support the assessment of the sustainability performance for customers which we believe will further motivate our customers to save energy and help Hong Kong achieve carbon neutrality by 2050,” said Low.

Mumbai, India – Consumer bank DBS has partnered with Bajaj Finance, the lending arm of non-banking financial services company Bajaj Finserv, to launch its first-ever credit card in India called ‘Bajaj Finserv DBS Bank SuperCard’, which is powered by Visa. This is designed to de-clutter customers’ wallets, eliminating the need for having multiple credit cards.

Through this partnership, DBS Bank India and Bajaj Finance aim to create an end-to-end digital experience and proposition for customers while catering to a large customer franchise across the geographic distribution of Bajaj Finance Limited.

The SuperCard will provide its customers with benefits and rewards across different product categories and exclusive benefits on Bajaj Finserv’s range of products and services available across the country.

Prashant Joshi, DBS Bank India’s head of consumer banking group, stated that this SuperCard is a transformative credit card experience curated to eliminate friction in the payments journey and transparency in billing so that customers can ‘Live More and Bank Less’.

“The credit card space is seeing robust growth. We are confident that the SuperCard developed in partnership with Bajaj Finance will help eliminate the need for multiple cards, widen the access to credit and offer compelling rewards and benefits to our customers, thanks to the BFL franchise network. Our vision is to leverage the strengths of both organisations and offer an end product which guarantees rich rewards and best-in-class customer experience,” said Joshi.

Meanwhile, Anup Saha, Bajaj Finance Limited’s deputy CEO, noted their partnership with DBS bank for this co-branded credit card further strengthens their position to deliver a seamless customer experience.

“The Bajaj Finserv DBS Bank SuperCard, as the name suggests, not only provides various industry-first benefits across lifestyle, travel and subscription categories but also provides exclusive Bajaj Finserv EMI network benefits like cashbacks on ‘No-cost-EMI’ loan down-payments & redemption of cash points against the same. It also has Bajaj Finserv Health benefits bundled into it. Bundling all this together, this card is a clear contender to become the most preferred card in our customers’ wallets,” said Saha.

Sandeep Ghosh, Visa’s group country manager for India and South Asia, said, “As more consumers turn to credit cards for their daily and discretionary needs, they actively seek easier access to credit alongside curated benefits and privileges. The Bajaj Finserv DBS Bank SuperCard has been designed to offer the best of both worlds. We are excited to partner DBS Bank as they launch their first credit card in India and are confident that the card’s unique value proposition will appeal to a large segment of Indian consumers.”

Singapore – UK-based fintech company Revolut in Singapore has recently announced the launch of two features in their platform: the Revolut Web App and Revolut account top-up via bank transfer.

Revolut’s latest web app, accessible in laptop and desktop computers.

The first one, Revolut Web App, now allows users to log in to their Revolut account via their desktops or laptops. Users signing in through the web app are protected by Two-Factor authentication (2FA), and can also overview transactions, freeze or unfreeze cards, block their PIN, and top up their account via bank transfer, debit or credit card, or via Apple Pay.

Commenting on the new launch, Revolut CEO and founder Nik Storonsky said, ““Account access through a browser is highly requested by our customers, so we’re delighted to have built a safe and convenient web app that everyone can use when they need it. Our customers can now access their money anywhere and at any time, even if they don’t have their phone or card, or if they simply prefer checking their account from a computer. It’s great to have the extra convenience and flexibility of an online option.”

A user interface depiction of Revolut’s mobile app dashboard, featuring topping up the account via bank transfers, such as DBS Bank in Singapore.

Meanwhile, Revolut has also partnered with DBS Bank in Singapore in enabling its customers to top up their wallets via bank transfers. With the new partnership, Revolut is able to assign a unique 15-digit virtual account number to each customer in Singapore, in which the customer transfers money to their virtual account from their bank, and the amount is reflected in their Revolut app.

James Shanahan, CEO of Revolut Singapore, said, “The goal here is to enable customers to manage their money in a way they find most convenient for their lifestyles. With virtual accounts, Revolut Singapore is able to collect payments from a large number of customers and still easily keep track of their transfers. This process will give our customers peace of mind, thereby improving overall user experience.”

Head of Growth at Revolut Singapore Pam Chuang also commented, “Topping up via your local bank account is fast and convenient. With the virtual account feature, Revolut is, once more, able to help our customers better manage their money. When we introduce new wealth and money-management products, this will give our customers visibility of how they are using their money.”