Driving Digital Transformation at the DBS Bank

Name: Driving Digital Transformation at the DBS Bank (English version)
SKU: SI-0195-E

Káganer, Evgeny; Gregory, Robert Wayne; Codrean, Catalin

Product #:SI-0195-E

Supplier:IESE Publishing

Discipline:Operations Management

Setting:Singapur, 2015

Details:Case (PDF) • 6 pages • 2016-10-28

Subjects:

Digital transformation Fintech Innovation Business management Finance and investing Business management Operations and supply chain management

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DBS, the largest bank in Southeast Asia, embarked on a journey of digital transformation in late 2013. In parallel with creating a new organizational unit called Digibank to spearhead the bank's expansion into new markets, the bank launched the Digital Mindset program to help change the company from within. This case, set in 2015, outlines the key moments of the transformational journey and describes the strategy taken by the new CEO to improve the bank's customer satisfaction ratings while also revolutionizing the way banking services were seen internally. Externally, the bank was using digital technology opportunities to expand into new countries where partnerships and acquisitions were not an option. Internally, top management was using the Digital Mindset program extensively to revolutionize business processes and ideation. Now the questions were how to make this type of thinking sustainable, how to reach everyone in the bank, and what to do next to keep the momentum going.

Learning Objectives

This case aims to show how digital transformation affects a well-established company in a highly regulated industry, in terms of the internal company culture as well as of the business process and strategy.