CHAPTER 11Finding and Seizing Opportunities: From Business Outlook to Marketing Architecture
Piyush Gupta, CEO of the Singapore‐based DBS Bank, saw significant growth opportunities in Asia by leveraging digital technology. He noticed the younger generation is more digitally savvy. Also, Asian consumers lead the industry in adoption rates of smartphones.
DBS Bank, which provides a full range of financial services in institutional banking, consumer banking, and wealth management, designed a new road map. It invested heavily in technology and undertook radical change to “rewire” the entire organization with digital innovation. It conducted a comprehensive study of emerging technology trends, customer behavior, and technological infrastructure. A team at DBS Bank also visited some of the world's foremost technology companies to acquire valuable insights and learn how to implement best practices in the banking industry.
Based on the findings of the study, DBS Bank's tech infrastructure team changed from 85% outsourcing to 85% insourcing to transform more effectively. It developed a digital business model with five critical capabilities: acquiring, transacting, engaging, ecosystems, and data. With these, it drove business objectives in different segments. In Singapore and Hong Kong, it digitalized rapidly to anticipate challenges. In India and Indonesia, it was the new entrant with Digi Bank, offering an innovative fintech solution.
DBS Bank prepared marketing communication as part ...
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