‘We want to be a dominant player’: DBS targets S$100 billion in cross-border flows by 2030

[SINGAPORE] DBS is aiming to reach S$100 billion in consumer cross-border flows in its core markets by 2030, and doubling its market share to 20 per cent, said Sanjoy Sen, group head of consumer banking, in an interview with The Business Times.

“We see cross-border (payments) being a very important part of our Asia business, and we want to be a dominant player in this area,” he said.

Growing this segment is less about earning fees and more about being “driven by consumer needs”, he added, when asked whether charges on cross-border transactions were a key driver of the S$100 billion target.