HomeResearch & Knowledgeback to HomeDigitalback to Research & KnowledgeDBS transformation (A): Becoming a world-class multinational bankback to Digital

Case Study

DBS transformation (A): Becoming a world-class multinational bank

By Seán Meehan and Pallivathukkal Cherian Abraham

14 pages

July 2017

Order this case study

Reference: IMD-7-1836

This case series examines the two stage transformation of DBS 2009- 2017. In both stages the bank places the customer as the centre of its thinking about how to structure, resource and play in the market. In 2009 DBS was an underperforming national bank with overseas branches, losing traction and lacking a compelling strategy. Under new leadership the A case describes the initial implementation of its turnaround strategy with the objective of creating a competitive world class multi national bank. DBS must decide which overseas market to focus on and how to enter. It raises the issue of the role of the fintechs in shaping the future of banking and its likely impact on the bank’s strategy. The B case describes DBS’s digital pure-play entry into the Indian market, its strategic reset now with an ambition to be like a 22,000 person start up prompted by its assessment of what the fintech landscape populated by the likes of Alibaba/ant financial. The case describes significant progress but asks whether this is sufficient given how the industry is evolving. The C case describes the company’s progress up to 2017 and highlights why Euromoney named DBS as the World’s Best Digital bank. It asks whether this progress is sufficient in given the amount of sectoral change.

Learning Objective

This case series allows students to examine the implementation of a customer-led strategy in an industry undergoing disruption.
More specifically students learn how to implement a customer-led strategy, how to enhance an organisation’s agility, how to embed an innovative culture.

Keywords

Digital Transformation, Customer Centricity, Innovation, Agility, Culture Change, Organizational Change, Change Management, Financial Services, Banking, Financial Technology, Digital, Organizational Transformation

Settings

Asia, Singapore
Development Bank of Singapore, Finance and Insurance, Financial Services
2009-2017

Type

Field Research

Available Languages

English

Related material

Teaching note, Video

IMD case studies are distributed through case clearing houses. In order to browse the collection and purchase copies please visit the links below.

The Case Centre

Cranfield University

Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]

Harvard Business School Publishing

60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]

Asia Pacific Case Center

NUCB Business School

1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]

IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

This case study is part of a series

DBS transformation (A): Becoming a world-class multinational bank
DBS transformation (B): Going digital and creating a 22,000 person start-up
DBS transformation (C): The world’s best digital bank

Best-selling Case Study

This case study is part of a series

DBS transformation (A): Becoming a world-class multinational bank
DBS transformation (B): Going digital and creating a 22,000 person start-up
DBS transformation (C): The world’s best digital bank

Keep reading

Article

China's technology sector - AI innovation

China's technology sector leads global innovation with AI, semiconductor growth, and strategic diversification. R&D investments fuel success amid regulatory challenges.

Artificial Intelligence Digital Innovation Technology Management

By Mark J. Greeven and Sophie Liu

in I by IMD

Case Study

Your company (and your life) in the hands of an AI agent?

Artificial Intelligence Digital Strategy

By José Parra Moyano and Alix Rey

Article

Omnipotent leaders - Fighting Back - Systems

Omnipotent leaders may seem untouchable, but systems crack. From mass mobilisation to quiet non-compliance, discover how pressure builds and where resistance begins.

Change Management Leadership Organizational Change

By Vanina Farber

in I by IMD

Case Study

AstraPay in Indonesia: Playing the digital payments platform vs. ecosystem game

Digital General Management Strategy

By Marleen Dieleman, Aarthi Thyagarajan, Pranesh Mahadeo, Maxence Nobels and Guillaume Clement

Article

Is a US crypto reserve the next Fort Knox or a financial time bomb?

US President Donald Trump’s full embrace of digital assets has sent shock waves through the cryptocurrency market, driving a price surge while creating both new opportunities and heightened risks for investors and corporations. Last week, Mr Trump...

Geopolitics Digital Finance

By José Parra Moyano

in The National

7 March 2025

Article

Sfide e opportunità per il futuro delle famiglie imprenditoriali italiane

Italian entrepreneurial families can ensure their continuity through structured governance strategies, effective family wealth management, engagement of new generations, and the enhancement of their legacy. The Objectives-Resources-Governance mode...

Family Business Organizational Change Innovation

By Alfredo De Massis and Josip Kotlar

in Modulo24 Magazine

January-February 2025, no. 1, pp. 97-109

Case Study

TBC Group: Future proofing a history of success

Strategy Digital Growth

By Goutam Challagalla, Francis D. Kim and Philip Charles Zerrillo

Case Study

Boosting and sustaining operational excellence

The case explores the principles and challenges of operational excellence through the experience of Magdi Batato, former EVP of Operations at Nestlé. It examines how he implemented Mission-Directed Work Teams (MDWTs) to empower front-line workers,...

Change Management Digital Operations

By Luis Vivanco, Carlos Cordon and Magdi Batato

China's technology sector - AI innovation

By Mark J. Greeven and Sophie Liu
in I by IMD

Summary

China's technology sector leads global innovation with AI, semiconductor growth, and strategic diversification. R&D investments fuel success amid regulatory challenges.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Artificial Intelligence

Digital

Innovation

Technology Management

Browse all topics

Your company (and your life) in the hands of an AI agent?

By José Parra Moyano and Alix Rey
Case reference: IMD-2666 ©2025

Summary

The case study introduces an original way of exploring the many questions and concerns around AI adoption in business. Based on a true story, it discusses the dilemma of AI implementation through Joe, the CIO of ParcelFlow. Joe is getting ready to present his AI strategy to the company's executive committee. Joe is also diabetic and on the morning of his presentation, he receives an AI-powered insulin pump. This is a life-changing event that raises both questions and fears that range from device functionality and safety to data privacy. Joe realizes that at his morning doctor's appointment, he has just gone through the same process that the executive committee is about to experience. Will Joe succeed in convincing the executive committee to transition towards the use of AI agents? To ultimately transform ParcelFlow's operations, Joe knows that answering the committee's concerns is vital. Joe's thoughts span the various stakeholders he needs to convince: Diane - the chief financial officer; Elena - the head of customer experience; Michael - the head of operations; Albert - the chief human resources officer; Robert - the legal counsel; and Lucy - the chief executive officer. Each stakeholder will have their own reservations and worries about the financial implications, customer experience, operational efficiency, workforce impact, legal compliance, and overall benefits of AI. Building trust is key for engaging people in this technological revolution. This can be achieved smoothly and rapidly by understanding, identifying and analyzing what AI is about and what it will do for us or our business. And most importantly, it must be accomplished with an excellent communications strategy.

Reference IMD-2666

Industry Healthcare, Medical Device;Healthcare, Pharmaceuticals

Available Languages English

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Artificial Intelligence

Digital

Strategy

Browse all topics

Omnipotent leaders - Fighting Back - Systems

By Vanina Farber
in I by IMD

Summary

Omnipotent leaders may seem untouchable, but systems crack. From mass mobilisation to quiet non-compliance, discover how pressure builds and where resistance begins.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Change Management

Leadership

Organizational Change

Browse all topics

AstraPay in Indonesia: Playing the digital payments platform vs. ecosystem game

By Marleen Dieleman Aarthi Thyagarajan Pranesh Mahadeo Maxence Nobels and Guillaume Clement
Case reference: IMD-2650 ©2025

Summary

This case study explores AstraPay’s journey to become a significant player, despite its latecomer status, in Indonesia’s burgeoning digital payments landscape. Launched in 2018, AstraPay had grown to serve over one million customers, but it faced intense competition from tech-first digital super-apps like GoTo and OVO. Led by Rina Apriana, who became CEO in 2023, AstraPay had to leverage its unique position within Astra International, a vast conglomerate with deep roots in Indonesia’s economy, to differentiate itself. The case first explores the conceptual differences between a platform and an ecosystem. It then considers how AstraPay can leverage Astra International’s unique characteristics to unlock synergies and evolve into an ecosystem. The question is underpinned by considerations on how AstraPay can best leverage its late mover status to compete with established digital first competitors. Finally, the students are encouraged to explore a range of alternative options available to Astra for building its ecosystem by highlighting the pros and cons of each approach against which to assess the final path taken by AstraPay.

Reference IMD-2650

Organization AstraPay

Industry Finance and Insurance, Financial Services

Available Languages English

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Digital

General Management

Strategy

Browse all topics

Is a US crypto reserve the next Fort Knox or a financial time bomb?

By José Parra Moyano
in The National 7 March 2025

Summary

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Geopolitics

Digital

Finance

Browse all topics

Sfide e opportunità per il futuro delle famiglie imprenditoriali italiane

By Alfredo De Massis and Josip Kotlar
in Modulo24 Magazine January-February 2025, no. 1, pp. 97-109

Summary

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Family Business

Organizational Change

Innovation

Browse all topics

TBC Group: Future proofing a history of success

By Goutam Challagalla Francis D. Kim and Philip Charles Zerrillo
Case reference: IMD-2651 ©2025

Summary

The case explores TBC Bank Group’s remarkable journey from a small Georgian bank to a regional leader in digital financial services across Central Asia. Founded in 1992 with just US$500 in initial capital, TBC evolved into Georgia’s largest financial institution and pioneered into digital banking. The case highlights TBC’s strategic expansion into Uzbekistan, where it rapidly built a leading digital banking ecosystem. Students will analyze TBC’s international growth approach as it transformed customer experience, leveraged technology and built a sustainable competitive advantage through product diversification, strong organizational culture and operational agility. The case explores international market entry, digital transformation and aligning strategies with local market needs, highlighting how TBC’s focus on innovation drives its regional expansion.

Reference IMD-2651

Organization TBC Bank Group

Industry Finance and Insurance, Banking

Available Languages English

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Strategy

Digital

Growth

Browse all topics

Boosting and sustaining operational excellence

By Luis Vivanco Carlos Cordon and Magdi Batato
Case reference: IMD-2653 ©2025

Summary

Reference IMD-2653

Organization Nestlé

Industry Consumer Goods, Food and Beverage;Consumer Goods

Available Languages English

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Change Management

Digital

Operations

Browse all topics

ABN AMRO (A): When culture drives transformation

By Michael R. Wade and Lisa Simone Duke
Case reference: IMD-7-2192 ©2025

Summary

The case describes two transformation journeys for ABN AMRO bank. The first transformation is cultural and the second is digital. It explores the interplay between these two journeys from the perspective of the head of the Personal Banking. The case goes into detail regarding how the bank rebuilt its internal operating model. The hierarchy was de-layered and replaced with agile ways of working, employee empowerment and a new performance management approach. At first, there was a lot of chaos, but, after some time for adjustment, benefits started to appear, such as higher NPS scores and improved financial results. The new approach also helped the bank cope with the Covid-19 pandemic as many of the changes were linked to remote working for employees and technology-mediated service provision for customers. The case also explores new challenges that appeared. While some teams embraced the new ways of working, others had trouble letting go of legacy approaches. There were inconsistencies and confusion around performance measurement. Despite improving performance in some areas, multifunctional teams were not necessarily delivering the best customer experiences. Sick leave was increasing, and there were signs that employee engagement was falling. The reader is placed in the shoes of the head of Personal Banking who must come up with solutions to these challenges.

Reference IMD-7-2192

Organization ABN AMRO

Industry Finance and Insurance, Banking

Available Languages English

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Digital

Browse all topics

Related topics

Digital

Browse all topics