DBS wants a million retail customers invested and insured

This is in line with bank's goal to set industry benchmark in digital financial planning

Published Sun, Dec 6, 2020 · 09:50 PM

Singapore

DBS aims to have in the next few years a million retail customers insured and invested as it looks to tap a more consolidated trove of customer data to ramp up its digital financial advisory tool.

This number now stands at less than half, though 20 per cent higher year on year, as personal finance habits continue to grow, Evy Wee, DBS head of financial planning and personal investing, told The Business Times in an exclusive interview.

Broad-based financial distress due to the pandemic has further pushed banks such as DBS to raise the bar on using data to aid financial planning among the masses.

The lender saw more urgency among customers to check on their financial health,…