DBS unveils a fintech facility in Fusionopolis

It will have a co-working space for up to 100 people.

Recently acknowledged World's Best Digital Bank DBS opened the doors of DBS Asia X (DAX), a 16,000 sq ft innovation space that has project pods and spaces, journey rooms, co-working spaces for up to 100 people as well as an auditorium and cafe.

The innovation facility is located at the Sandcrawler Building in Fusionopolis.

This came with the inaugural launch of the week-long Singapore FinTech Festival. The opening of the said innovation facility was officiated by the Monetary Authority of Singapore’s Deputy Managing Director Jacqueline Loh and DBS CEO Piyush Gupta.

Gupta said DBS is looking towards helping to further Singapore's Smart Nation agenda as they transform DBS into a 22,000 person start-up.

“DBS Asia X underscores DBS’ ongoing commitment to shaping the future of banking and embracing the future of work. It is a purpose built facility for DBS employees from all over the region to come together, design and develop iconic customer journeys and work in close collaboration with start-ups and the broader FinTech community," he said.

The bank has been actively engaging in the FinTech ecosystem with programmes such as the DBS HotSpot,the first pre-accelerator programme created and wholly-run by an Asian bank. Over 40 start-ups were accelerated as part of the programme, which will now be housed at DAX.

In addition, the bank has also run a number of hackathons to discover new solutions and services to unlock further value in the financial services space. Through the DBS Foundation, the bank has supported and nurtured over 100 social enterprises.