DBS Bank

The bank not only presented a new platform for interfacing with customers, but in the subsequent years also successfully added new services that offered convenience to its online banking customers, such as application for IPO (initial public offering) shares and enabling third party fund transfers. It received the accolade for The Leading Internet Banking Website in the Asia-Pacific by the Lafferty Group in 2000.

In 2003, DBS also tapped on the high penetration of mobile phones in Singapore to secure online third party fund transfers. This requires a customer to key in on the Web page a unique password sent via SMS (short message service) in order to proceed with the transaction.

DBS underwent an enhancement of its i-banking platform in 2004, in bid to increase its capacity to manage transactions. More recently, the bank announced its decision to use hardware tokens that randomly generate numbers as a second factor of authentication, to better secure online transactions between the bank and its customers. The bank is expected to issue the tokens from September 2006.

The bank also goes to great lengths to cater to specific customer segments, such as youths and young professionals. It runs DBS ME (mobile e-commerce), a service that allows registered users to be informed of lifestyle promotions and order the product or service via SMS. Payment is deducted from the designated credit card that the user had registered with.

Another initiative to provide value add is RealtyEasy, a property portal. Through the site, customers can post notices to buy or sell property, obtain tips or up-to-date information on real estate and the property market and even choose to engage the services of the bank's property agents.

In Hong Kong last year, DBS was the first bank to launch 3G mobile phone banking, allowing customers the convenience and flexibility of conducting banking transactions via 3G video mobile phones.