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.
