Tag "DBS"

DBS Targets US$1B in First Year of Operations at GIFT City in India

DBS Bank has inaugurated its IFSC Banking Unit (IBU) in the Gujarat International Finance Tec-City (GIFT City) at Gandhinagar in India. GIFT City houses India’s first International Financial Services Centre (IFSC), offering a conducive regulatory environment, tax benefits, and other

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DBS Equips 1,800 of Its Relationship Managers With Sustainable Financing Skills

DBS has upskilled over 1,600 institutional banking relationship managers (RMs) and 170 credit risk managers (CRMs) to deepen their knowledge in sustainable financing practices through specialised Climate Activation Workshops. These workshops which DBS has been organising since December last year

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Transforming the Future of Banking Through Cloud and Open-Source Technologies

The banking sector has undergone a significant transformation thanks to the introduction of cloud and open-source technologies. Previously, banks relied on legacy systems and proprietary software, resulting in operations being siloed, scalability being limited, and high costs. However, with the

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Are Major Banks in Singapore Realising Their Digital Transformation Agendas?

Singapore, renowned as a financial hub and the prominent digital economy in Southeast Asia, is spearheading digital transformation in financial services, including its incumbent banks. While traditional banks have been sluggish to modernise in the past, this recent digital transformation

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Singapore Passes MAS’ Bill on ‘COSMIC’ to Gather Info on “Red Flag” Customers

The Singapore parliament has passed the Monetary Authority of Singapore’s (MAS) bill to establish the COSMIC platform. COSMIC is a secure digital platform for financial institutions to share with one another, information on customers who exhibit multiple “red flags” that

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DBS Mulling Dubai Expansion to Scale up Middle East Presence, Says Piyush Gupta

DBS Bank’s CEO Piyush Gupta said that the financial firm is mulling expansion plans in Dubai, according to a Bloomberg report detailing his interview with Yousef Gamal El-Din at the Dubai Fintech Summit. He added that the bank is “revisiting

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MAS Slaps DBS with S$1.6B Additional Cap Requirement Due to Consecutive Disruptions

The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement on DBS Bank following two consecutive disruptions of its services in just over a month. Along with the additional capital requirement of S$930 million imposed on DBS in

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DBS PayLah! Users Redeemed More Than 1 Million Meal Subsidies in Less Than 3 Months

More than one million hawker meal subsidies have been redeemed by Singapore residents in less than three months since DBS rolled out its ‘5 Million Hawker Meals’ scheme. DBS offered cashbacks of up to SGD 3 to the first 100,000

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IFC Proposes US$250m Investment in Singapore’s DBS

The International Finance Corporation (IFC), a World Bank Group member, revealed in a disclosure that it plans to invest up to US$250 million in DBS, the leading Singapore-based financial services group. The IFC proposed investment involves a 50-50 equal risk-sharing

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LinkedIn Ranked DBS, StanChart, Grab as Best Workplaces to Grow a Career in Singapore

LinkedIn, a business and employment-focused social media platform, has ranked DBS Bank as the best workplace to grow a career in Singapore. The 3rd annual LinkedIn Top Companies also featured other financial institutions including Standard Chartered Bank, Mastercard, Citi, Grab,

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