DBS transforms bank platform with cloud technology

Next-gen credit risk management system is in the works.

In the efforts of accelerating innovation for customers, DBS Bank unveils plans of utilizing cloud native applications to progress to a highly scalable and flexible environment.

Tapping the minds at Pivotal Cloud Foundry, DBS will soon lay a foundation with the speed associated with internet giants including Google and Facebook.

With this maneuver, DBS will be able to operate and deliver services to its customers exponentially faster. It will also build next-generation applications and user experiences rapidly, with features updates evolving with the changing customers needs.

According to DBS Technology and Operations Head David Gledhill, this would redefine the banking experience for over 6 million consumers and corporate customers across Asia.

"Like many traditional industries, the banking sector is being disrupted by agile start-ups and fintech companies that are delivering a differentiated experience to customers. To compete effectively against these new entrants, DBS must have the ability to be responsive to customers," Gledhill said.

For him, the cloud technology will enable DBS to build next-generation credit risk management systems and funds transfer pricing systems for the bank.

More so, this is in line with their initiative to transform its operations from the front office to the back-end processes marching to become a software company.