DBS launches innovative digital banking mobile app

DBS is getting innovative with its official  launch of "DBS digibank", a mobile app designed to make banking faster for its customers.

Customers can view their account balances with a simple wipe on their mobile devices or Apple Watch through the "Peek Balance" function. The function allows customers to view any of their DBS/POSB deposit or credit card accounts. The "account balance inquiry" function is the most used among DBS' customers across the bank's platforms, including ATMs, online services and its call centre.

Jeremy Soo, managing director and head of consumer banking group (Singapore), DBS Bank, said: "We are upping the ante on not just the breadth of our digital offerings, but also on providing a holistic customer experience across our platforms. We do this by placing ourselves in our customers’ shoes, focusing on their needs and ensuring we know what the real ‘customer job to be done’ is. With ‘DBS digibank’, we seek to seamlessly integrate banking into our customers’ everyday lives so that banking becomes simpler and fuss-free for them."

The bank states that "an extensive customer immersion programme and applied human-centred design" was used to develop DBS digibank, which also offers customers the following new features:

  • Personalised profile and customised quicklinks - Customers can create profiles with their pictures or nicknames, and are able to create shortcuts for their favourite mobile banking services (first in industry)
  • Payments made easier - Customers can use a list of recent and favourite payees for faster transactions (first in industry)
  • Instant account opening - Opening an additional banking account takes only few simple steps
  • Touch ID - Customers can log in securely with their fingerprint

Since its soft launch on 14 March, "DBS digibank" has received over 200,000 downloads. DBS currently holds the largest number of online and mobile banking customers in Singapore, with over 2.5 million and 1.25 million users respectively. The large customer base accounts for more than 1.2 million transactions each day across its digital platforms.

Pearlyn Phau, deputy group head of consumer banking & wealth management, DBS Bank, said: "With increasingly tech-savvy customers and rising smartphone usage, we have designed our digital banking services to be innovative and nimble enough to address customer needs, and be able to provide an intuitive and relevant banking experience. It is about leveraging world-class technology to create a first-class customer experience."

Earlier during December 2015, DBS piloted digital account opening for new customers, allowing them to open savings accounts at their convenience, without having to travel to a physical branch.

"DBS digibank" follows a series of recent initiatives DBS has made in Singapore, such as DBS PayLah!, DBS SMS Banking, and DBS FasTrack.