{"id":20432,"date":"2021-08-06T07:18:37","date_gmt":"2021-08-06T07:18:37","guid":{"rendered":"https:\/\/sms-bridges.com\/staging\/?p=20432"},"modified":"2021-08-13T07:01:08","modified_gmt":"2021-08-13T07:01:08","slug":"dbs-creating-wealth-enabling-success-and-enriching-lives","status":"publish","type":"post","link":"https:\/\/sms-bridges.com\/staging\/dbs-creating-wealth-enabling-success-and-enriching-lives\/","title":{"rendered":"DBS: Creating wealth, enabling success and enriching lives"},"content":{"rendered":"\n

Group Head of Consumer Bank & Wealth Management at DBS Bank, Sim S. Lim, speaks on the post-pandemic economic recovery, digital transformation, sustainability and the importance of the Singapore- Japan partnership.<\/p>\n\n\n\n

Bridges: What impact did the pandemic have on the Singaporean economy and DBS?<\/strong><\/p>\n\n\n\n

Lim: <\/strong>The pandemic has impacted every single country in the world and Singapore is no exception. However, Singapore continues to make good progress on its economic normalization, bolstered in part by the government\u2019s transparency and tenacity in tackling the pandemic. Singapore once again shines as a safe haven at times of rising uncertainty.<\/p>\n\n\n\n

\"\"
SIM S. LIM<\/strong>, Group Head of Consumer Bank & Wealth Management DBS | \u00a9DBS<\/em><\/span><\/figcaption><\/figure><\/div><\/a><\/div>\n\n\n\n

As the nation\u2019s leading bank, and armed with our deep understanding of Asia\u2019s business dynamics, regulations and cultural nuances, as well as our extensive Asian insights, connectivity and world-class digital capabilities, DBS stands well positioned to tap into this trend of robust growth.<\/p>\n\n\n\n

DBS was born from the mission to develop Singapore and this sense of purpose continues to be embedded in our DNA today. DBS was a key partner in the nation\u2019s public-private Emerging Stronger Together taskforce, which was formed in May 2020 to explore and build the best path with which to help Singapore prosper and emerge from the pandemic stronger and well positioned for the future.<\/p>\n\n\n\n

In line with our ongoing support for social enterprises, which are companies with dual bottom-lines of profit and impact, we deepened our support for the sector with a slew of initiatives, including working capital loans at preferential interest rates, grant offerings, access to business and digital transformation courses, and a business resource guide on how to navigate COVID-19 challenges. We also committed ourselves to not only protecting the livelihoods of our workforce, but also hired over 2,000 people, specifically young graduates fresh out of the university and seeking jobs, at a time when there was a dearth of job opportunities.<\/p>\n\n\n\n

We also sought to do right by the communities in which we live and work. We launched a 10.5 million Singapore dollar Stronger Together fund to help hard-hit communities across the region, and continue to aid Singapore and our neighboring countries in the battle against COVID-19. With the support of the Singapore High Commission in India and the Indian High Commission based in Singapore, DBS imported three cryogenic oxygen tanks, each with a capacity of approximately 20,000 liters, to support the ongoing relief efforts in India. More recently, DBS donated 1,000 oxygen concentrators to Indonesia to help treat patients with respiratory conditions.<\/p>\n\n\n\n

How do you see the post-pandemic recovery progressing and how well positioned is DBS to drive growth in 2021 and beyond?<\/strong><\/p>\n\n\n\n

The pandemic has brought two particular themes to the fore: digitalization and sustainability. Both are key strategic pillars for us. As a leading player in the digital space, DBS is well-positioned to play the game differently from our peers and step up to help construct the highways of today\u2019s new digital world. We started on our digital transformation journey a decade ago, centered on four pillars:<\/p>\n\n\n\n

\u2022 Automated banking to enable operations to be performed via \u201cstraight-through processing.\u201d<\/p>\n\n\n\n

\u2022 Augmented banking to power digital capabilities, designed to enhance the service experience. Examples include DBS\u2019 digiPortfolio and hybrid human-robo investment solution.<\/p>\n\n\n\n

\u2022 Open banking connecting DBS\u2019 banking services with ecosystem partners.<\/p>\n\n\n\n

\u2022 Intelligent banking.<\/p>\n\n\n\n

Over the years, we\u2019ve established a strong footing in the first three, and are now focused on doubling down on our intelligent banking capabilities. These harness advanced technologies such as predictive analytics, artificial intelligence and machine learning to transform data into hyper-personalized, relevant and intuitive insights for our customers.<\/p>\n\n\n\n

For example, our AI-powered financial and retirement planning tool DBS NAV Planner helps customers to make more informed decisions about their money in an insightful, actionable, yet simple way. For our wealth customers, we have rolled out a range of industry-first \u201csmart triggers\u201d that seek to empower them to make holistic investment decisions and capture timely opportunistic investments.<\/p>\n\n\n\n

A strong and prosperous Japan is good for the entire Asian region.<\/p> SIM S. LIM<\/strong>, Group Head of Consumer Bank & Wealth Management DBS <\/span><\/cite><\/blockquote><\/figure>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

We continually challenge ourselves to stay ahead of change via innovation and self-disruption. For instance, amid growing interest in the crypto front, we launched DBS Digital Exchange last year, an ecosystem for digital assets that also provides security via robust due diligence, safekeeping and custodial services. We have also built on this to roll out Asia\u2019s first bank-backed trust solution for cryptocurrencies for our private banking clients, so they can now integrate crypto into their wealth succession plans.<\/p>\n\n\n\n

As a purpose-driven bank, we believe we have a responsibility to do right not only by our clients, staff and shareholders, but also toward society. We stand committed to further entrenching our position as Asia\u2019s industry leader in sustainability, which is a means to not only do good, but also do well. Our approach to sustainability is focused on three areas: responsible banking, responsible business practices and creating social impact.<\/p>\n\n\n\n

How is DBS contributing to the ongoing economic partnership between Singapore and Japan?<\/strong><\/p>\n\n\n\n

A strong and prosperous Japan is good for the entire Asian region. Japanese companies are looking at diversifying and venturing into opportunities abroad including Southeast Asia, and Singapore remains an attractive destination, given its position as a lighthouse to Asia\u2019s opportunities. As a leading bank that is synonymous with Singapore and armed with extensive Asian insights and connections, DBS stands well positioned to partner these companies on their journey.<\/p>\n\n\n\n

We also see potential opportunities to collaborate with Japan\u2019s companies in the fintech space. Just last year, we partnered with Seven Bank on an initiative to avail our digital remittance services and application programming interface for their use.<\/p>\n\n\n\n

What are some of your fondest memories of working in Japan and with the Japanese?<\/strong><\/p>\n\n\n\n

Japan holds a special place in my heart. The three tipping points in my life all occurred in Japan: I had a scholarship to study in Japan; I met my spouse there and we now have two kids; and the first big break in my career was given to me by my Japanese boss while I was in Tokyo. These encounters and experiences shaped me into the person I am today, and I feel nothing but gratitude for them.<\/p>\n\n\n\n

www.dbs.com<\/a><\/strong><\/p>\n\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Group Head of Consumer Bank & Wealth Management at DBS Bank, Sim S. Lim, speaks on the post-pandemic economic recovery, digital transformation, sustainability and the importance of the Singapore- Japan partnership. Bridges: What impact did the pandemic have on the Singaporean economy and DBS? Lim: The pandemic has impacted every single country in the world […]<\/p>\n","protected":false},"author":1,"featured_media":20449,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[331,292,259,228,523,519],"tags":[510],"class_list":{"0":"post-20432","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-331","8":"category-articles","9":"category-bridging-japan","10":"category-financial-services","11":"category-interviews","12":"category-singapore","13":"tag-financials"},"yoast_head":"\nDBS: Creating wealth, enabling success and enriching lives - Bridges Magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sms-bridges.com\/staging\/dbs-creating-wealth-enabling-success-and-enriching-lives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DBS: Creating wealth, enabling success and enriching lives - Bridges Magazine\" \/>\n<meta property=\"og:description\" content=\"Group Head of Consumer Bank & Wealth Management at DBS Bank, Sim S. 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