HomeResearch & Knowledgeback to HomeDigitalback to Research & KnowledgeDBS transformation (A): Becoming a world-class multinational bankback to Digital

Case Study

DBS transformation (A): Becoming a world-class multinational bank

By Seán Meehan and Pallivathukkal Cherian Abraham

14 pages

July 2017

Order this case study

Reference: IMD-7-1836

This case series examines the two stage transformation of DBS 2009- 2017. In both stages the bank places the customer as the centre of its thinking about how to structure, resource and play in the market. In 2009 DBS was an underperforming national bank with overseas branches, losing traction and lacking a compelling strategy. Under new leadership the A case describes the initial implementation of its turnaround strategy with the objective of creating a competitive world class multi national bank. DBS must decide which overseas market to focus on and how to enter. It raises the issue of the role of the fintechs in shaping the future of banking and its likely impact on the bank’s strategy. The B case describes DBS’s digital pure-play entry into the Indian market, its strategic reset now with an ambition to be like a 22,000 person start up prompted by its assessment of what the fintech landscape populated by the likes of Alibaba/ant financial. The case describes significant progress but asks whether this is sufficient given how the industry is evolving. The C case describes the company’s progress up to 2017 and highlights why Euromoney named DBS as the World’s Best Digital bank. It asks whether this progress is sufficient in given the amount of sectoral change.

Learning Objective

This case series allows students to examine the implementation of a customer-led strategy in an industry undergoing disruption.
More specifically students learn how to implement a customer-led strategy, how to enhance an organisation’s agility, how to embed an innovative culture.

Keywords

Digital Transformation, Customer Centricity, Agility, Culture Change, Change Management, Financial Services, Banking, Financial Technology

Settings

Asia, Singapore
Development Bank of Singapore, Finance and Insurance, Financial Services
2009-2017

Type

Field Research

Available Languages

English

Related material

Teaching note, Video

IMD case studies are distributed through case clearing houses. In order to browse the collection and purchase copies please visit the links below.

The Case Centre

Cranfield University

Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]

Harvard Business School Publishing

60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]

Asia Pacific Case Center

NUCB Business School

1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]

IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

This case study is part of a series

Keep reading

Article

Zero Gap Forward: A blueprint for closing the gender pay gap

Transparency and standard salary benchmarks are vital to ensure the future of employment is equitable and just for all.

Organizational Change

Do companies still need a Chief Digital Officer?

While a CDO can offer substantial benefits in steering digital transformation, fostering innovation, and achieving competitive advantage, organizat...

Innovation Digital Leadership Technology Management

Being future-ready isn’t a luxury: Organizations must perform and transform to survive and thrive

The most successful future-ready organizations operate on dual horizons. They continue to perform while transforming and exploiting their core busi...

Future Readiness Innovation Organizational Change

By Howard H. Yu and Zhike Lei

in I by IMD

18 March 2024

Article

Bitcoin’s comeback: Does the crypto bull market have further to run?

As the bellwether digital coin reaches a record high of $69,000, why a spring event known as “the halving” is expected to propel prices higher stil...

Riding the waves: Navigating the digital landscape in financial services

How ready is the financial services industry to benefit from digital disruption? Findings from the Global Center for Digital Business Transformatio...

Finance Digital Business Transformation

By Michael R. Wade and Jialu Shan

in I by IMD

7 March 2024

Article

Digital sustainability: The new frontier for greener technology and business

From reducing greenhouse gas emissions to supporting sustainability objectives across value chains, digital technologies can promote sustainability...

Sustainability Digital

By Julia Katharina Binder and Michael R. Wade

in I by IMD

26 February 2024

Article

Drawing a digital dividend from M&A

The chance to jumpstart digital transformation is an increasingly common M&A deal driver, but it is not always the short cut it promises to be.

Finance Strategy Digital Digital Transformation

By Tomoko Yokoi

in I by IMD

20 February 2024

Article

Ensuring the internet is a right, not a privilege

Internet access has become a critical aspect of modern life. No longer just a realm of entertainment, the internet is a gateway for accessing basic...

Digital Technology Management Business Transformation

By Tomoko Yokoi

in Forbes.com

20 February 2024

Article

Do you have a phone addiction?

In our digital age, smartphones have become a double-edged sword, offering boundless information at our fingertips while silently ensnaring us in a...

Change Management Digital

By Alyson Meister and Nele Dael

in HBR.org

12 February 2024

Article

How data collaboration platforms can help companies build better AI

There are three immediate challenges for companies that want to train fine-tuned AI models: 1) they require extensive, high-quality data — a scarce...

Digital Innovation Technology Management Data Analytics Artificial Intelligence

By José Parra Moyano, Karl Schmedders and Alex Sandy Pentland

in HBR.org

26 January 2024

Do companies still need a Chief Digital Officer?

By Anja Lagodny
in I by IMD 3 April 2024

Summary

While a CDO can offer substantial benefits in steering digital transformation, fostering innovation, and achieving competitive advantage, organizat...

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Innovation

Digital

Leadership

Technology Management

Browse all topics

Being future-ready isn’t a luxury: Organizations must perform and transform to survive and thrive

By Howard H. Yu and Zhike Lei
in I by IMD 18 March 2024

Summary

The most successful future-ready organizations operate on dual horizons. They continue to perform while transforming and exploiting their core busi...

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Future Readiness

Innovation

Organizational Change

Browse all topics

Riding the waves: Navigating the digital landscape in financial services

By Michael R. Wade and Jialu Shan
in I by IMD 7 March 2024

Summary

How ready is the financial services industry to benefit from digital disruption? Findings from the Global Center for Digital Business Transformatio...

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Finance

Digital

Business Transformation

Browse all topics

Digital sustainability: The new frontier for greener technology and business

By Julia Katharina Binder and Michael R. Wade
in I by IMD 26 February 2024

Summary

From reducing greenhouse gas emissions to supporting sustainability objectives across value chains, digital technologies can promote sustainability...

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Sustainability

Digital

Browse all topics

Drawing a digital dividend from M&A

By Tomoko Yokoi
in I by IMD 20 February 2024

Summary

The chance to jumpstart digital transformation is an increasingly common M&A deal driver, but it is not always the short cut it promises to be.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Finance

Strategy

Digital

Digital Transformation

Browse all topics

Ensuring the internet is a right, not a privilege

By Tomoko Yokoi
in Forbes.com 20 February 2024

Summary

Internet access has become a critical aspect of modern life. No longer just a realm of entertainment, the internet is a gateway for accessing basic...

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Digital

Technology Management

Business Transformation

Browse all topics

How data collaboration platforms can help companies build better AI

By José Parra Moyano Karl Schmedders and Alex Sandy Pentland
in HBR.org 26 January 2024

Summary

There are three immediate challenges for companies that want to train fine-tuned AI models: 1) they require extensive, high-quality data — a scarce...

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Digital

Innovation

Technology Management

Data Analytics

Artificial Intelligence

Browse all topics