DBS has been named the world’s best artificial intelligence (AI) bank in the inaugural Global Finance AI in Finance Awards this year.
The bank began leveraging AI in 2014 and since made “substantial investments” in its platforms, processes and people, according to its Oct 15 statement. One way DBS leverages AI is by offering hyper-personalised nudges to help customers make more informed investment and financial planning decisions. The technology also equips its relationship managers with deeper insights to better serve clients. In 2024, Harvard Business School chronicled the bank's AI strategy in a case study, the first of its kind done on an Asian bank.
“DBS is proud to be recognised globally by Global Finance for our leadership in AI. This award is a testament to our relentless pursuit of innovation and the significant investments made over the past decade,” says DBS CEO Tan Su Shan. "Our strong foundation has enabled us to scale transformative AI innovations across all parts of the bank – from enhancing fraud protection to empowering employees and optimising risk management. As DBS advances on our journey to be an AI-enabled bank with a heart, we remain committed to leveraging AI responsibly, blending machine intelligence with human empathy to reinforce the trust our customers place in us.”
