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Finance

Singapore's DBS explores metaverse in digital push

Bank's CIO says technology will be 'game changer' in finance industry

DBS intends to have a major presence in the metaverse, in which people interact as digital avatars in a virtual world.

SINGAPORE -- Singapore's DBS Group Holdings is looking for ways to bring banking services to the metaverse, the company's chief information officer said, as Southeast Asia's largest bank continues to invest heavily in its digital transformation.

CIO Jimmy Ng told Nikkei Asia in an online interview that DBS has been investing about 1 billion Singapore dollars ($730 million) annually in technology over the past decade in areas such as the cloud and artificial intelligence, and will maintain that amount of tech investment.

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