1.

What were the key challenges DBS faced that provided the impetus

towards the pursuit of a digital transformation strategy

A digital savvy client base and disruptions from new entrants forced DBS to enter

into a digital transformation to maintain its compettiveness. DBS customers were

demanding more in terms of digital services in a bid to protect itself from loss of

customers to rival DBS had no alternative but to rethink how to implement a digital

strategy. Besides, business digitalization had started to change the competitive

landscape with new entrants taking advantage of technology to achieve competitive

advantage. For DBS it was a case of change or elimination from the banking industry.

2. What did DBS do to deal with these challenges? What were the key thrusts

of its digital business strategy? For each key thrust, what technology

investments were made? What related organisational changes (e.g.,

structure, process, people) were instituted?

The Key thrusts for DBS digital business strategy were a revamp on its

tegnology and operations sector, development of scalable digital platforms and

to leverage on technology to change its design and customer satisfaction and

internal incubation and external partnering in seeking for digital innovation.to

achieve the desired technological change- the technological and operations were

merged to form a new group- T&O led by David Gledhil. T&O was carefully was

carefully aligned with respective business lines and geographical market to

ahieve a close connection with all stakeholders. Key business and system

analysts were placed to understand the business and geographic lines. The first

success of the project was in 2014 when DBS was able to eliminate more 1400

hours of wait time.

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3. Has DBS done enough in transforming itself for the digital era? What

else should or can be done as the next steps for its digital strategy? How can

DBS stay at the forefront of banking innovation to become the Asian Bank of

Choice of the future? 

DBS has rocked the digital banking industry. Since 2009 the firm has won

various accolades to to revamped business strategy: in 2016 during the

Euromoney awards for excellence it was named the worlds best digital bank and

it won this position again in 2018. Becoming a world leader in digital banking

industry marks DBS milestone in its digital revolution journey. However, more

needs to be done to win the hearts and minds of people to chose digital banking

services. The company can: make people the key differentiator in its digital

revolution journey, measure value created from digitalization and fuse banking

technology with businesses strategy.