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Case Study

DBS transformation (C): The world’s best digital bank

By Seán Meehan and Pallivathukkal Cherian Abraham

4 pages

July 2017

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Reference: IMD-7-1913

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

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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

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

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