Our belief is to get to the back end, to sort out the pipes. This requires vast amount of work in the back-end infrastructure, integration layers, messaging and all the associated innovations you need to make your architecture nimble. Getting the core right is where we really put our heavy spend. It will speed up the front-end. We build world-class systems on top of that. 20 David Gledhill Head of Group T & O, DBS Until banks can completely change and enable the back end to allow digital instant fulfi llment, you will not get through digital banking. We are spending billions of dollars in digitising the bank. Less than 10% of it is in the frontend apps. 90% of it is in digitising the middle and the back. How do you digitise the back end, and create middleware around it that allows seamless connectors and connectivities into front end? 21 Piyush Gupta CEO, DBS Sorting out the ‘back-end’ technology platforms required a careful development of its enterprise architecture as T&O worked closely with their business counterparts to rationalize the range of banking applications that best handled its various operations. (See Exhibit 7 – Technology Roadmap.) The proactive engagement with business users included a disciplined process of managing deviations. Every deviation had to be justi ed with plans to realign in the future, and these deviations were logged, reviewed and re-justi ed not just once, but every year. DBS’ new core banking system, Finacle, was deployed across 12 countries in 28 months. The common operating platform comprised a core banking suite of standardised applications including trade, accounting ledger, capital reporting, interfaces with Internet banking and other channels. New functionalities in customer management, liquidity management were also introduced. In addition, the successful modernization of the legacy core banking system in Singapore and Hong Kong also enabled rapid roll-out of new products, for example, RMB- denominated investment or insurance plans. The new operating platform allowed for greater exibility in catering to different country-specific preferences or different product packaging features (tiered pricing, rebates, loyalty points). In 2011, DBS launched a new wealth management platform with integrated consumer/retail banking and private banking functionalities, rst of its kind in Asia. It developed a ‘wealth continuum’ to better service each customer segment, targeting speci cally the transition of customers from middle class to high-end segments. The integrated banking platform facilitated a seamless 19 Wright, C. (2010, September 20). Piyush Gupta’s Plans for DBS. Euromoney . 20 David Gledhill to Authors, 2012. 21 Tan, N. (2015, May 6). Singapore Well-Poised to Build Vibrant FinTech Sector. Channel NewsAsia . Retrieved May 4, 2015, from http://
Page 6 Asia Case .com the Asian Business Case Centre ABCC-2015-004 customer experience, as it enabled retail customers with growing assets to access not just the retail banking platform (e.g., to manage their checking
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- Summer '17
- Gro Torsethaugen
- DBS Bank