DBS Group – Digital Transformation Strategies
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DBS Digital Transformation Strategies Report Overview
DBS Group (DBS) has been focusing on using artificial intelligence, cloud, big data, PSD2, and open banking to digitally transform its operations. The annual ICT spending of DBS was estimated at $821.4 million for 2023. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. Through principal subsidiary DBS Bank, DBS Group Holdings offers a range of banking and financial solutions that include current, savings, multi-currency, and business accounts; debit and credit cards; fixed deposits; and personal and professional loans. It provides insurance coverage for life, health, travel, cars, accidents, education, and business. The company also offers wealth management, treasury products, cash management, trade finance, private banking, institutional banking, online banking, and advisory and capital markets solutions.
|Total ICT Spending 2023
|ICT Spend by Function
|Data center, Communications, Network, Application, End-User computing, Management, and Service desk
|ICT Spend by Channel
|Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators
|External ICT Spend by Segment
|Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others
|Technology Theme Focus
|Artificial intelligence, cloud, big data, digital payments, and PSD2 and open banking
The DBS Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, accelerator programs and innovation centers, technology partnerships, technology introductions, investments, and ICT spending among others.
Digital Transformation Strategies
DBS has made significant investments in emerging technologies, including blockchain and artificial intelligence/machine learning (AI/ML). DBS’ blockchain-enabled businesses, such as the DBS Digital Exchange (DDEx) and Partior, focus on cross-border payment systems and digital asset solutions. DDEx offers a unified suite of services for corporate and accredited investors, while Partior leverages smart contracts for more efficient clearing and settlement.
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DBS Technology Theme Focus
DBS is utilizing several emerging technologies including artificial intelligence, cloud, big data, digital payments, PSD2, and open banking among others to enhance its digital banking capabilities.
DBS Technology Theme Focus
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DBS Technology Initiatives
DBS has been involved in several strategic technology partnerships and collaborations, technology developments and rollouts, and technology investments over the last few years. For instance, in 2021, the bank incorporated facial verification technology to help SMEs in opening corporate accounts online. This new function is based on the SingPass Face Verification technology developed by the Government Technology Agency of Singapore (GovTech).
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DBS ICT Spend by Function
- End-user computing
- ICT Service desk
DBS ICT Spend by Function, 2023 (%)
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DBS ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
DBS ICT Spend by Channel, 2023 (%)
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DBS External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Network and communications
DBS External ICT Spend by Segment, 2023 (%)
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This report provides:
- Insight into DBS’ technology activities.
- Insights of its accelerator programs & innovation centers.
- Overview of technology initiatives covering partnerships, technology introductions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into DBS’ technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
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Table of Contents
– Brief information about the company, its business divisions and its financials
Digital Transformation Strategy
– A summary of key digital strategies/implementation efforts of the company
Accelerators, Incubators, and Other Innovation Programs
– Discusses the company’s key strategic units, innovation labs, incubation and accelerator programs dedicated to technology innovation
– Lists the technology themes pertinent to the industry the company operates in and highlights the themes adopted by the company
– Discussion about all the technology introductions & partnerships the company has entered
– Brief discussion about the investments made by the company to acquire new technologies
Partnership and Investment Network Map
– A bird’s eye view of all the partnerships/investments/acquisitions that the company has made in the last 3-5 years
ICT Budget and Contracts
– The company’s ICT budget segregated into hardware, software, and managed IT services
– Lists key executives and Digital Transformation Executives of the company, typically the key decision makers/influencers
Frequently asked questions
What was the total ICT spending of DBS in 2023?
The annual ICT spending of DBS was estimated at $821.4 million in 2023.
Which is the leading ICT spending category by function for DBS?
Network is the leading ICT spending category by function for DBS in 2023.
Which is the leading ICT spending category by channel for DBS?
Internal development and maintenance is the leading ICT spending category by channel for DBS in 2023.
Which is the leading ICT spending category by segment for DBS?
Software (including cloud SaaS) is the leading ICT spending category by segment for DBS in 2023.
What are the key technology themes in focus for DBS?
The key technological theme in focus for DBS are artificial intelligence, cloud, big data, digital payments, and PSD2 and open banking.
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