India to get DBS’ AI-based ‘conversation bank’ service
Development Bank of Singapore (DBS) is set to roll out its latest banking innovation in India by end of this year, enabling customers to "bank conversationally" from their preferred mobile messaging app. The Artificial Intelligence (AI) based innovation will allow DBS customers to access banking services quickly on Facebook Messenger, said DBS.
India is DBS's highly rated emerging market especially in mobile- and internet-driven apps. In April, DBS launched "digibank", India's first mobile-only bank. Announcing this, DBS said the innovation will be simultaneously launched in Singapore along with India, and then followed in other key markets. It also plans to extend this service to other mobile messaging apps like WhatsApp and WeChat in the future. Since 2014, DBS is in the midst of investing SGD 200 million on digital banking across the region.
Elaborating, DBS said in a statement: "For the first time in Asia Pacific, DBS customers will be able to use natural language to converse with DBS from their favourite mobile messaging app, manage their money across accounts, track expenses and even make payments in the process."