Why did Singapore DBS Bank's digital banking transformation succeed?
Have you ever heard of "DBS Bank" in Singapore? DBS Bank is now attracting worldwide attention for being one of the world's best examples of a successful "digital bank". The fact that it was named World's Best Digital bank by Euromoney, a financial information magazine, twice in 2016 and 2018, is proof of its ability. In this article, I will draw on the content of the book "The Birth of Amazon Bank: The Next Generation Financial Scenario in 2025" to address the question of why DBS Bank's digital banking has been so successful. What is DBS Bank in Singapore? Let's start by explaining what kind of bank DBS Bank is. DBS Bank was established in 1968 as "The Development Bank of Singapore", shortly after its independence from the United Kingdom in 1963 and Malaysia in 1965. In 2003, the bank changed its name to DBS Bank, which comes from the initials of its original name. DBS Bank, which started in Singapore, now has more