Singapore-headquartered DBS, which has made digital banking and technology a core part of its overall business strategy, has enhanced its iWealth platform.

DBS has upgraded its digital wealth platform, enabling clients to make banking transactions, manage their wealth and trade in one place.

Specific features of DBS iWealth, now also available via a mobile app, include: single dashboard to view banking, trading and wealth portfolio; ability to trade stocks in seven key markets and keep abreast of economic trends; insights from research based on preferences and holdings; notifications and price alerts; and access to over 400 funds, as well as fund data and analysis.

In 2014, DBS committed to investing S$200 million over three years in digital banking. Today, around 70 per cent of the bank’s wealth management clients use online and mobile banking services, and are actively managing their wealth through these channels. In fact, last year a quarter of the firm’s wealth management clients were acquired online via DBS iWealth, it said.

“By leveraging big data, biometrics and intuitive design, we are focused on delivering relevant advice in a timely manner," said Tan Su Shan, group head of consumer banking and wealth management. "For the new ‘DBS iWealth’ mobile app, we tested it with over 3,000 clients before rolling it out to all clients, and we believe it will give them a faster, smarter and more personalised way to manage their wealth.”

Meanwhile, in November, DBS launched an “innovation lab” - called DAX - in the suitably futurist Sandcrawler building in Singapore.