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Singapore's DBS bulks up digital banking with AI and big data

Southeast Asia's largest lender goes on offensive as new rivals loom

DBS has spent SG$4.4 billion over the last four years on technology as it tries to meet a target of growing its investment income in wealth management to 25% annually.   © Reuters

SINGAPORE -- Southeast Asia's largest lender DBS Bank is betting on artificial intelligence and big data to shore up its digital offerings, as new rivals are set to enter its home turf in Singapore on the back of new licenses offered by the local central bank.

DBS on Monday said it was adding predictive technology to its mobile applications, which will proactively offer suggestions to customers on how to more effectively manage their money or cut losses on investments.

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