digibank by DBS
About digibank by DBS
4. Additional Services Offered by the Platform Beyond fundamental banking services, the neobank has developed a complete ecosystem of additional services that enrich the customer experience and position the neobank as a truly integrated financial platform. These additional services reflect DBS Bank's strategy to become a financial "marketplace" where customers can find everything they need for financial management. Digibank's investment services are one of the most significant additions to the platform. Through the app, customers can invest in a wide range of mutual funds offered by reputable asset managers. In India, this digital bank offers access to more than 250 mutual funds covering different asset classes: equities, bonds, hybrid funds, index funds, and sector funds. The minimum investment amount is often as low as 500 rupees via a SIP (Systematic Investment Plan), making investing accessible even to small savers. This banking platform provides analysis tools and recommendations based on the customer's risk profile to assist in investment decision-making. The digiPortfolio service is an automated portfolio management (robo-advisory) offering from the digital platform. This service uses sophisticated algorithms to build and manage a diversified portfolio tailored to each customer's risk profile and financial goals. digiPortfolio offers several investment profiles, from the most conservative to the most aggressive, and automatically rebalances the portfolio based on market conditions. The minimum amount to access this service is 1,000 Singapore dollars in Singapore, which is significantly lower than the thresholds typically required by traditional wealth management services. Insurance products are also available through Digibank. The neobank has established partnerships with leading insurance companies to offer its customers life insurance, health insurance, travel insurance, and home insurance. The entire subscription process is done through the app, with easy comparison of different offers and subscription in just a few clicks. Insurance premiums are often more competitive than those offered in branches, as the neobank benefits from reduced distribution costs thanks to its digital model. The digital bank offers an instant loan service that goes beyond simple personal loans. The neobank offers flexible credit lines, pre-qualified mortgages, and vehicle purchase financing. In India, Digibank's instant personal loan can be obtained in as little as 3 minutes, from clicking "apply" to receiving the funds in the account. This speed is made possible by the use of AI-based credit scoring models that analyze in real time the customer's financial behavior, income, spending habits, and credit history. The digital bank's international remittance service is particularly well-developed. The neobank allows sending money abroad to more than 40 countries with competitive fees and transparent exchange rates. This service is crucial for the Indian diaspora in Singapore and Gulf countries, who regularly send money to India. International transfers via the digital bank are processed quickly, often within a few hours for the most common corridors, compared to several business days for traditional bank transfers. This banking platform has developed a loyalty and cashback program that rewards customers for using the platform. Customers accumulate DBS loyalty points for every transaction made with their Digibank card, and these points can be exchanged for discounts at partner merchants, air miles, or account credits. The digital bank's cashback program also offers direct rebates on certain purchase categories, including fuel, groceries, and restaurants. Cashback offers are personalized based on each customer's spending habits through data analysis. The mobile bank's Digital Vault service allows customers to securely store digital copies of their important documents: passport, driver's license, identity card, contracts, certificates, and other sensitive documents. These documents are encrypted and accessible only via biometric authentication in the Digibank app. This service offers considerable peace of mind, knowing that important documents are securely backed up and accessible when needed. Merchant offers and promotions are integrated directly into the digital platform's app. Customers can discover exclusive offers from thousands of partner merchants in dining, shopping, entertainment, and travel. These offers are geolocated and personalized, meaning customers see first the promotions available near their current location that match their interests. This marketplace of offers constitutes a tangible benefit for the digital bank's customers and an acquisition lever for the neobank. This neobank offers stock and bond trading services directly from the app. In Singapore, customers can buy and sell shares listed on the