DBS, OCBC launch products to help busy executives

DBS tool to help CFOs with regulatory, tax changes; OCBC to allow fund transfers using Apple's Siri

Published Wed, Oct 4, 2017 · 09:50 PM

DBS

Singapore

LOCAL banks DBS and OCBC have come up with yet more tools to help busy executives.

DBS on Wednesday said its latest online tool will help CFOs (chief financial officers) and corporate treasurers cut through the tedium of keeping up with the latest regulatory, tax and market changes in the different countries they operate in.

Users are able to simulate various bank and corporate solutions on DBS Treasury Prism (treasuryprism.dbs.com) at no cost, and review potential opportunities for their business, the bank said.

Banks are ramping up offerings to CFOs because cash management services are a nice, steady fee generator.

"Building the global transaction services business is one of the bank's strategic priorities, and today, it constitutes 31 per cent of the bank's institutional banking business income," said DBS. In particular, cash management services have grown from strength to strength, it added. In Q2 2017, DBS said transaction service fees increased 4 per cent …