A REVOLUTIONARY NEW WAY TO BANK
Download DBS digibank case study
DBS BANK HIGHLIGHTS:
$518 BILLION IN ASSETS
18 MARKETS ACROSS THE WORLD AND COUNTING
‘WORLD’S BEST DIGITAL BANK’ AWARD BY EUROMONEY
LIKE CUSTOMERS, LIKE BANK: TRULYDIGITAL
DBS serves some of the world’s fastest growing mobile markets and saw an opportunity to create a bank that was truly digital right down to its core. A bank to both impress the digital generation and simplify banking for millions of people.
To achieve this, while ensuring easy scalability and empower growth, DBS adopted a three pronged strategy.
REIMAGINE THE CUSTOMER JOURNEYS
EMBRACE MODERN TECHNOLOGY
TRANSFORM THE COMPANY CULTURE
DBS envisioned a branchless, mobile-only bank that would offer all the functionalities of a physical bank, while making every process paperless and seamless. The result – Digibank – a simple, convenient and secure way to bank on-the-go.
To ensure such convenience along with robust security called for a flexible, scalable and resilient platform on which DBS could build their services and launch new features. And that’s why DBS chose Infosys Finacle.
MODERN PLATFORM, DESIGNED FOR AGILITY
DBS required a partner who could help them transform Digibank into a truly digital outfit with speed and efficiency, and the Infosys Finacle team delivered did just that.
Advanced Solution Suite for core and wealth products to design personalised customers journeys and enable continous innovation.
Agile Delivery to break down the delivery requirements into sets of work items to be completed in sprint cycles.
Design Thinking Principles for the requirement gathering and design stage.
Digibank uses one-fifth of the resources required in a traditional bank set-up.
REACHING 1.8 MILLION PEOPLE IN 18 MONTHS
A unique and incredibly forward-looking service, Digibank gained over 1.8 million customers in India, within just 18 months of its launch. Here’s how Digibank achieved its vision of reimagining and simplifying the banking experience.
Customers can open an account right from the mobile app, requiring minimal data and zero paperwork, in just 90 seconds.
Wallet to Savings Account
Customers can open a wallet account and can convert into a savings account anytime to enjoy greater returns.
Leveraging UPI, DBS empowers its customers to manage
all their external bank accounts through its app. They can see real time
balances and send or receive payments.
Invest in a Flash. Customer can open a wealth account in a jiffy, create a personalized risk profile, and purchase, track and redeem mutual fund on the go.
Manage Finances Wisely. With budget optimizers, customer can track expenses, analyze purchase patterns and get actionable advise.
Frictionless Payments. Customers can make payments using their Digibank app at all QR-enabled stores and website.
Contact Infosys Finacle
Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights–driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.
Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio than others
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Download DBS digibank case study