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The case is about DBS bank, one of the largest Asian banks, reacting and
technique for which DBS has intensely invested in innovation and embraced radical
changes to restructure the whole business digitally. The thrusts of the digital
transformation strategy include the patch up of its own innovation and Operations
redesign the internal incubation, and additionally the client encounter and outside
banding together in looking for new digital development. DBS' journey of rewiring the
structure highlights the key abilities that an association needs to have so that it can
fact that the banking industry has developed from something beyond then
customary saving money exercises, and any firm that contends with the
rivalry. Moreover, DBS has fanned into zones that are outside of conventional
managing an account, presenting itself to rivalry from different firms that could
management, which are the areas outside banking that surely ensures the
competition from various financial institutions. It will also decrease the hold of
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Assignment#5 – The Case Of DBS Bank
the firm on the market because of the fact that things are getting more
provide more and more products and services. In traditional banking system
danger from the new participant in the market was low due to high
industry can also be danger to the old firms with innovative and digitalized
technological solutions and it can be noticed from the examples given in the
case for threat from new entrant such as Paypal, WeBank and Alipay these
were the non-traditional player making inroads to the banking space but in
case of DBS, it has reduce its threat significantly by digitalizing and innovating
itself.
DBS is seeking after perfection and turning into the top most banks for Asian
In any case, the new vision and systems being executed are approaches to
in the banking industry. The new vision and methodologies adjust to its new
its core value discipline by executing the new methodologies identified with
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Assignment#5 – The Case Of DBS Bank
and customer profiles are requesting distinctive products from the various
In the case it can be noticed that DBS is putting resources into approaches to
make items more basic, less expensive, and helpful, offering a totally new
free from its opposition utilizing Big Data, innovation development by doing
innovation.
3. What are the key thrusts of DBS’ digital transformation strategy? What
The key thrusts of DBS can be listed down starting with the digital
transformation that was instilled emphatically by CEO in DBS. The CEO was
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Assignment#5 – The Case Of DBS Bank
of the view to make all things digitalized and He supported and encouraged all
the official of the bank for innovation and digitalization. The improvement of
new group was formed called T&O by merging technology division and
operation division. The reason for forming this group was that it could include
platform was formed for integrating retail banking and private banking
typical system for advancement. This has led to a rewiring of the association
and to accomplish these radical association changes DBS spends the vast
majority of its capital toward the back end, making adaptable arrangements,
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Assignment#5 – The Case Of DBS Bank
4. How effective is DBS in transforming itself in the digital era? What are
the metrics you would use to test the success of the transformations?
DBS was transforming itself very successfully and it can be seen starting with
DBS invested heavily to build its technology infrastructure which gave DBS
the ability to rapidly scale up and down its digital infrastructure and was
experience council. The intention was to foster a mind-set shift that would go
customers. The metric that will be suitable for measuring the transformation is
the customer experience index where companies prioritize the investment and
try continuously improve the customer experience which is what DBS is doing
right now.
5. What are the critical success factors that help to transform business
new group called technology and innovation (T&O). The first priority of this
platform and this brought digital thinking among the executive. The evidence
for this can be seen in the case where DBS conducted innovation training
workshops for staff and then DBS was also hiring people on the basis of
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Assignment#5 – The Case Of DBS Bank
boost staff confidence and this help business executives transform from
touchpoints which would enable DBS to stay ahead in competition and this
customer for checking their account balance and withdraw money from their
account they need to go either to the bank or to the ATM but DBS can provide
email and email could be send by end of each day or they can also setup a
platform where customer can simply check there balance by sending a text
message to the bank. Another thing that DBS can do is to build products that
target the large customer market and should eliminate its product which don’t
cover the large customer market. Free its resources from those products and
make the use of those resources on building on product which target large
customer market.
7. How can DBS stay at the forefront of banking innovation to become the
"Asian Bank of Choice" of the future? See the table below for
that DBS needs to be place assets into ways to deal with making things more
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Assignment#5 – The Case Of DBS Bank
boosted system from the traditional banking. DBS should come up with
should put its emphasis on to find new ways of engagement and for that I
think the Strategic response of Co-opting would be the best for DBS.
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