Wealthtech

DBS Rolls Out AI-Powered Digital Investment Advisory Feature

All DBS/POSB retail customers can now access a new feature on DBS’ AI-powered financial and retirement planning tool NAV Planner, which will provide specific investment recommendations that are tailored to their investment profile.

Evy Wee

Head of Financial Planning and Personal Investing, DBS Bank said,

“Our ongoing efforts to democratise access to wealth management services not only enable more people to participate in the markets, but also help mitigate their risks. We found that only one in 10 customers could successfully complete their investment journey, because they actually prefer a lot more hand holding. So with today’s launch, we are augmenting the advice our customers receive with the expertise of our funds selection team, where we prioritise funds which are positively-rated by the team. The additional expert guidance will help our customers overcome investment inertia, and for some who are already savvy investors, to make more informed investment decisions.”

To get started customers will first be prompted to answer a 5 question assessment in order to establish an accurate investment profile. The digital advisor will then leverage their new AI/ML models to recommend investment solutions across six product classess.

Customers who receive a “zero” risk profile upon completing the assessment will not receive investment recommendations and instead will be advised to review insurance solutions instead since they have stated that they are not willing to lose any capital.

Additionally, customers who have negative cash flow will also not be able to gain access to the advisor, instead, they will be provided steps to help turn their finances around or be prompted to consolidate their holdings via SG Findex.