A look at how the banking industry will change in ASEAN. What is the impact of Virtual Banks on DBS? What is the most useful AI innovation that can be deployed?

1. Digital Data and Science
Virtual ICON
Shivanand Rai (Shiva)
Executive Management Associate – Consumer Banking

2. Minimal Impact of Virtual
Banks in Singapore
• No unbanked in SG,
40% underbanked
• Focus on the SME and
Millennial markets
• High Capital
Requirements
• Requirement to
compete on value
proposition instead of
fees

3. • VBs increase competition in this market
• 75% underbanked, 450 million people
• 200 million Millennials
• Online Lending Expected to be USD 110
Billion
• Increased competition on this front as
governments will relax regulation to
drive economic activity
The real prize is ASEAN

4. AI Reinvents Banking
- Investment recommendations to clients
- Real-time portfolio optimization
- Predictive Analytics on Markets
- Increased CRM abilities
- Reduce RM attrition
- Trade reconciliation
- Detect AML or Fraud transactions
- Faster and less labor-intensive KYC
- More robust risk management
Increase Revenue
Reduce Costs

5. Recommendation
Engine
User
choice
User
demographics
Location
data inputs
Merchant
data
Transaction
data
Top Spend
Categories

6. Questions For
the Team
• What specific products are you developing or
releasing soon?
• What are the talent roadblocks in your digital
transformation efforts?
• How do the various business units work together to
launch a product (Innovation, Intelligent Banking,
UX and Analytics)?
• What would a successful year as an EMAP look like?
• What training modules and strategic projects are
offered?
• Could you elaborate more on the 2-3 stints that I
will work on in this year?
• What does life after EMAP look like at DBS?