DBS has deployed an agentic AI tool to help about 1,500 employees worldwide assess corporate clients seeking financing.
The bank aims to cut the time spent preparing credit memos and carrying out related work by at least 30%.
These tasks can currently take up to 40% of a relationship manager’s time, according to DBS.
The tool uses specialised AI agents to handle more than 70 separate tasks.
It gathers information from annual reports, industry research and internal records to produce a first draft of a credit memo for employees to review.
Credit assessments help banks understand a company’s financial health, business outlook and potential risks before deciding whether to provide financing.
Employees can ask the AI agents to carry out further research and revise the draft.
Relationship managers and credit risk managers remain responsible for the final memo and must apply their own knowledge of the client, industry and wider business environment.
Han Kwee Juan, Group Head of Institutional Banking at DBS, said:
“We believe that agentic AI can help to reimagine corporate banking.
Through this capability, we have been able to capture the knowledge and insight of our best relationship managers and credit risk managers, turning these into a solution which enables us to level up the quality of our credit analysis at scale.”
DBS expects the tool to give relationship managers more time for strategic discussions with clients.
Credit risk managers could also spend more time on portfolio strategy, risk calibration and emerging risks.
The rollout is part of DBS’ wider push to use agentic AI in its customer services and internal operations.
In July, the bank announced agentic AI upgrades for its DBS Joy and DBS digibot virtual assistants.
The upgraded assistants will serve about 10 million customers across Singapore, Hong Kong and Taiwan.
Featured image: Edited by Fintech News Singapore, based on image by toia via Magnific
