DBS Eyeing to Bank Tomorrow’s Unicorns

DBS Eyeing to Bank Tomorrow’s Unicorns

by November 5, 2019
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DBS announced that they will be making available a comprehensive suite of banking and professional services, at zero cost in a bid to attract startups and future unicorns within the software, internet and emerging technologies to bank with them.

Dubbed DBS Startup Unleashed, the bank aims to provide a suite of solutions that includes a fee-free multi-currency account, accounting software, transaction and payment management, co-working space at DBS Asia X, mentorship, and networking opportunities to startups

Tan Su Shan, Managing Director and Group Head, Institutional Banking Group, DBS said that startups work hard to bring exponential ideas to life in the marketplace but often face considerable challenges as they also shoulder the daily responsibilities of running and growing a business.

Tan Su Shan

Tan Su Shan

“DBS wants to bank Asia’s unicorns of tomorrow, today, as we believe that the startups in the Software, Internet and Emerging Technology industries will be the linchpin of the future economy. Due to the rapid adoption and availability of new technology, these startups are on the cusp of exponential growth as they develop next-generation solutions that meet the rapidly changing consumption needs in Asia and across the globe. To help these startups make headway as quickly as possible, DBS is doing whatever we can, from linking them to our ecosystem partners to providing relevant banking services to help them succeed.” she adds.

 

Startups in the Software, Internet and Emerging Technology industries who are interested in signing up for the ‘DBS Startup Unleashed’ business toolkit can register their interest here.

This story comes on the back of Singaporean banks increase their efforts to attract startups to bank with them, recently OCBC announced that they have teamed up with Experian to enable startups to open an account with them immediately after incorporation.

 

 

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