DBS, SGX launch financial education programme for budding investors

DBS Bank and the Singapore Exchange (SGX) are launching a financial education programme aimed at budding retail investors.

"FLY with DBS and SGX" seeks to provide the "Not Invested But Interested" (NIBI) segment of people who are just beginning their investment journey with the knowledge, skills and tools to improve their financial literacy. The programme will adopt a hands-on and interactive method, and leverage on both DBS's data-driven approach for a "seamless and customised learning experience" for new investors, as well as SGX Academy's expertise in investment education, the partners said in a statement.

Both SGX Academy and DBS will co-develop investment course materials for each consumer segment, comprising of interactive webinars, e-tutorials and web articles which are customised by SGX Academy for DBS customers.

The duo have identified three segments to target: enabling women to achieve financial independence at various life stages; starting young adults off their financial journey by cultivating good investment habits; and helping member of Generation X to supplement their retirement funds through investments.

"Based on customers' banking transactional behaviour, DBS will identify the investor profile of customers and match them to specific customer segments, before reaching out with contextualised and tailored education offerings," the bank and market operator said.

SGX head of equities and fixed income Chew Sutat said: "We are excited to partner DBS which will strengthen our efforts to enhance financial literacy among individuals in Singapore and open up another channel for non-investors to work their money harder, in a well-informed and educated way."

Tan Su Shan, group head of consumer banking and wealth management at DBS, added it was important for the bank's customers to "have a thorough understanding of the fundamentals of investing, as it will empower them to make informed decisions and become savvy investors in their own right".

"We are aware that a lack of financial knowledge prohibits consumers, especially young adults, from investing their money even though they want to. By combining our strengths with SGX, we look forward to offering budding investors easy access to achieving greater financial literacy in investments and grow the number of active investors in Singapore," she said.