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DBS introduces mutual fundson digibank, India’s first mobile-only banking platform

Mumbai / Chennai,  December 2017–DBS Bank, a leading bank in Asia,will now offer its digibankcustomers a unique experience ofinvesting in mutual funds with a completely paperless and ‘signatureless’ on-boardingon itsmobile-only banking platform. DBS is the only bank in India to offer this first of its kind offeringthat does away with filing of multiple forms to start investing in mutual funds.

The mutual fund offering ondigibankcomes with the following features:
– Instant paperless onboarding allowing investors to startinvestments instantly
– Risk profiler, a specially curated tool that helps customers assess theirrisk preferences andaccordingly presents a set of various right risk-mapped mutual fund schemesfrom leadingAsset Management Companies (AMCs)to choose from
– Invest, sell and track mutual funds and SIPs on the go
– Customers can make informed investment decisions with mutual fund performance data and research insights provided by Morningstar, one of the world’s leading independent investment research providers
Announcing the new mutual fund functionality on digibank,Shantanu Sengupta, Managing Director & Head – Consumer Banking, DBS Bank India said: “With digibank, our intention has always been to be digitally embedded in our customers’ evolving financial lifecycle and offering them a differentiated customer experience. With fast growing awareness of mutual funds and adoption of digital banking, customers are increasingly seeking to make their own investments online in a simple manner without having to depend on traditional channels. Thus, this offering makes paperless onboarding, tracking and redemption in mutual funds a reality within minutes for our digibank customers.”

digibank, India’s first mobile-only bank has over 1.5 million customers since its successful launch in April 2016.It offers 7% interest on savings account along with new age payment options such as Bharat QR, and UPI.Additionally,customer service is provided by a 24×7 AI-driven Virtual Assistant and is poweredby an intelligent, intuitive budget optimiser.

About DBS
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings, is among the highest in the world.

DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for nine consecutive years from 2009 to 2017.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 23,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.

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