DBS Underscores Need for A DIFFERENT KIND OF BANK in A Post-Pandemic World
Being a bank for the times is to be more like a startup, more like a techie, more like an eco-warrior, and less like a traditional bank
HONG KONG, July 28, 2022 /PRNewswire/ — DBS announced the roll-out of regional ‘Be a Different Kind of Bank’ brand campaign in Hong Kong. In 2018, DBS told customers it wanted them to “Live more, Bank less”. Four years on, the bank continues to defy the status quo – this time, with its latest regional brand campaign, which makes clear it is more like a startup, more like a techie, more like an eco-warrior, and less like a traditional bank.
The category-defying campaign signals DBS’ belief that a different kind of bank is needed in a post-pandemic world – one that is more technology and sustainability-focused. And while this is in many ways what the bank already is today – having been ahead of its peers in transforming itself digitally since 2014 – it is committed to intensifying efforts going forward to become even more like a forward-looking tech company offering financial services, and less like a conventional bank. At the same time, it will continue to up the ante on addressing sustainability issues and devoting to be a purpose-driven bank.
These commitments come amid a recognition that the world has changed irretrievably with the pandemic of the past two years. There has not just been a dramatic acceleration in digital consumption demand, but also a heightened belief that urgent action must be taken to address climate change and issues of social inequity.
Karen Ngui, Group Head of Strategic Marketing and Communications at DBS and a board member of DBS Foundation, said, “DBS has never been bound by conventional notions of what a bank should be. Instead, we have constantly broken boundaries and reimagined banking. With Covid-19 upending economies and societies, now more than ever, we must be able to anticipate and lead change so our customers and the community at large can ‘Live more, Live better, and Bank less’. By behaving more like a startup, more like a techie, more like an eco-warrior, and less like a ‘traditional’ bank, we believe we can be a bank for the times – a different kind of bank for a post-Covid world.”
Being a different kind of bank
The campaign encapsulates several aspects of how DBS embodies being a different kind of bank:
- Inculcating a startup culture: Emerging technologies such as blockchain and artificial intelligence/ machine learning continue to mature and will likely reshape the world of finance in the coming decade. By imbuing a startup culture in the organisation and equipping employees with important digital skills, a spirit of innovation and entrepreneurship will continue to flourish.
- Committing to continuous innovation: DBS embarked on its digital transformation journey in 2014 so customers can “live more, bank less”, and have more time to spend on the people and things they care about. In recent years, it has intensified these efforts, which have contributed to it being named “World’s Best Bank” and “World’s Best Digital Bank” multiple times. Whether it is in leveraging artificial intelligence/ machine learning and data, blockchain technology, or tying up ecosystem partnerships, the bank seeks to ensure that banking is simple, fast and effortless, increasingly personalised, and seamlessly woven into everyday life.
- Advancing the sustainability agenda: From banking underserved communities and supporting social enterprises to prioritising action on climate change, DBS is guided by a sense of responsibility to society and planet. The bank also champions financial inclusion and zero food waste. In 2021, DBS was the first Singapore bank to join the United Nations-convened, industry-led Net-Zero Banking Alliance, pledging to align its lending and investment portfolios with net zero emissions by 2050. Earlier this year, it also committed an additional SGD 100 million to grow DBS Foundation’s existing ‘Business for Impact Chapter’ and to set up a new ‘Community Impact Chapter’. The increased funding will also support other philanthropic and relief efforts.
Other than Hong Kong, the ‘Be a Different Kind of Bank’ regional brand campaign will be rolling out in Singapore, Mainland China, India, Indonesia and Taiwan over the next two months.
DBS Hong Kong won a series of accolades as best bank in Hong Kong by multiple financial publications including ‘Hong Kong’s Best Bank’ from Euromoney’s Awards for Excellence 2022, ‘Hong Kong’s Best International Bank’ from Best Bank Awards 2022, ‘Best International Bank in Hong Kong‘ from FinanceAsia’s Country Awards 2022 as well as ‘Bank of the Year – Outstanding Performance’ by Bloomberg Businessweek’s Financial Institution Awards 2022, entrenching the bank’s position as an industry leader delivering stellar performance amid the economic volatility.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
SOURCE DBS Hong Kong
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