DBS Bank offers customers a new banking experience
Getting your loan applications approved within 15 minutes is nothing new in many countries that use advanced information technology. But at its electronic pilot branch in brand-new headquarters, DBS Bank is setting out to impress clients with a totally ne
On the third floor of the third tower of Singapore’s Marina Bay Financial Centre, the pilot branch is a working example of what clients can expect in the world of future retail banking. At the bank’s entrance is a big interactive screen that clients can direct with hand movements to get all the bank’s information – ranging from services and products to hosted activities.
Entering the spacious lounge, decorated in a red theme to match the bank’s logo colours, clients are given a queue number. While relaxing on a couch, they can fill in their requests using an electronic device. Wi-Fi-ready iPads are available on which they can read e-newspapers and magazines. There are even games for children to play. Within less than five minutes, customers are served by a banking officer, who can act immediately on their request. For simple requests and services they are escorted to small table, but for personal consultations, customers are led to one of more than 10 egg-shaped cubicles located around the lounge. Hidden out of view behind the cubicles is a multi-purpose machine that scans and electronically stores documents. Banknotes can also be counted automatically, allowing bank staff to remain with customers. A client’s electronic signature then completes the transaction process.
Forgotten your bankbook? That’s no problem, if you are there to make a cash deposit. The pilot machine is ready at the back of the lounge to receive any cash deposits, after which you simply take your receipt and head home.
The bank’s technology requires fewer banking staff and enables employees to spend more time with specialised services, said Fen Peh, vice president for group strategic marketing and communications.
Traffic management is a key. If there is not enough staff for private consultations, floor managers – in red blouses and black skirts – are ready to divert traffic to other departments.
“One of our customers came here with his son and left him playing games on the iPad console. After only 15 minutes he was finished to the surprise of his son, who wanted to continue playing games,” Peh said.
Parts of the branch’s electronic banking system are being replicated in other DBS branches. Operating 84 branches in the city-state, DBS understands that change cannot happen overnight and everywhere.
“We cannot replicate this system in all our branches yet. There are some areas where our customers are not used to iPads,” Peh said.
The new branch is a showcase that is part of DBS’s new headquarters, encompassing 46,450 square metres, or 18 floors of the tower.
Making this possible are the 4,800 staff who are motivated to be innovative and socially involved.
It took the bank three months to complete its relocation from the old financial centre. Floor plan is a key to keeping staff’s spirits high.
On each floor, the offices are decorated in four colour themes including orange and purple. In the elevator hall, there is a strong scent of something the firm calls “DBS”. Each floor also has a kitchen area where staff can have their lunches and enjoy the sea view.
There is also a vending machine dispensing free drinks.
A staff community area also offers spectacular views of Marina Bay. Here they can purchase beverages at Starbucks with a 10-per-cent subsidy from the bank, plus another 50-cent (Bt12) discount if they bring their own mug or glass. In addition, a large corner of the community area is allocated to social enterprises, free of charge.
“Here, all employees can enjoy the great views, which are normally reserved for executives,” Peh said with a smile.
A DBS Bank employee for more than three years, she has many reasons to be proud of her employer.
