DBS Bank to invest SGD20 million over 5 years

In a move to support Singapore’s vision of becoming a Smart Nation reiterated by Prime Minister Lee Hsien Loong, DBS Bank will be investing SGD20 million over the next five years in a broad-based programme that will train its 10,000 employees in Singapore in digital banking and emerging technologies.

The broad-based programme will include artificial intelligence (AI)-powered e-learning; experiential learning, such as intrapreneur programmes and hackathons; grants and scholarships and innovative learning spaces.

train its 10,000 employees in Singapore in digital banking and emerging technologies.
DBS Bank will train its 10,000 employees in digital banking and emerging technologies in Singapore. Photo courtesy: DBS

Issuing a press release, the bank said, “DBS has launched a new cloud-based learning management system called DBS Horizon, which is powered by Saba, a leading cloud-based learning management solution used by leading organisations worldwide. DBS Horizon uses artificial intelligence to make personalised course recommendations, and help employees collaborate, create communities of interest, and engage in mobile education anytime, anywhere across the bank. The user-intuitive interface enables DBS staff to easily search for courses to support their career aspirations and passions.”

In addition to this, DBS also encouraged experiential learning. DBS employees are given the opportunity to go on paid sabbaticals to work on prototypes and start their own businesses. The bank also runs accelerator programmes which provide mentorship and funding to help these intrapreneurs grow their concepts into prototypes.

Banking staff of DBS can likewise apply for grants and scholarships to upskill themselves in emerging technologies like data and analytics, designing thinking and automation, the bank said.

Simultaneously, innovative learning spaces, like the DBS Academy and DBS Asia X, are also part of the programme, where employees have access to digital master classes, or work in collaboration with start-ups and the broader fintech community. 

Lee Yan Hong, Group Head of Human Resources, DBS Bank said, “As the financial sector evolves, the profile of jobs will change and we are committed to helping our people adapt and embrace digital transformation through innovative and immersive continuous learning programmes.”

She added, “An agile and innovative workforce will also make Singapore’s Smart Nation ambition a reality and along with this, we are making significant investments to groom a generation of digital bankers, strengthening Singapore’s talent pool.”