DBS Bank and Singapore Airlines (SIA) have signed a memorandum of understanding (MOU) to enhance digital capabilities across various digital platforms, the national carrier said in a press release.
The partnership aims to enable a seamless banking and travel customer experience for travellers.
Under the MOU, the two companies will introduce flight booking and merchandising capabilities on DBS’ platforms, as well as a DBS-SIA Rewards Programme on KrisPay. Payment options for SIA customers will be expanded to include PayNow, via Application Program Interfaces (API) technology.
Under the DBS-SIA Rewards Programme, KrisFlyer members can instantly convert DBS points into KrisPay miles via the KrisPay app. Miles can subsequently be used for retail purchases at KrisPay partners island-wide. Alternatively, the KrisPay miles can be converted into KrisFlyer miles instantly within seven days of accrual.
“We are excited to be teaming up with DBS. The partnership will provide great benefits to both our companies, given our shared aim to be a digital leader in our respective industries, with enhanced customer benefits through new flight booking, merchandising and reward programme ties,” said Singapore Airlines Executive Vice President Commercial, Mr Mak Swee Wah.
DBS customers can now look forward to booking their holidays on the soon-to-be-launched DBS Travel Marketplace. They will be able purchase flights, book hotels and buy travel insurance on a single integrated platform.
“Singaporeans are among the most well-travelled in the world with over 10.3 million overseas trips made in 2018 alone” said Mr Shee Tse Koon, DBS Singapore Country Manager. "Through this partnership, we would be able to elevate the consumer travel experience by offering extensive travel and retail options for travellers to choose from and customise their journeys right at the start.”
The initiatives will be gradually rolled out this year, beginning with the DBS Travel Marketplace. The full suite of updates will be made available by end of 2019.