DBS Bank Takes on China’s Biggest Fintech Firms

DBS Banks has been in the midst of changing the way the bank operates, culturally and competitively; they now find themselves competing directly with some of China’s biggest fintech companies in Ant Financial and Tencent; DBS has been rebuilding the bank like a technology firm, when entering new markets it doesn’t have plans to add brick and mortar branches; they have invested more than $3bn to upgrade their systems and develop mobile applications; the transformation has been a big boost for the bank already as it has become Southeast Asia’s most valuable firm and return on equity is projected to be 13 to 14 percent in the next 5 years. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!