PART3 23 Bank Spotlight (DBS) Created in: 1968 Headcount: 21,000 Net Income: 2.898 USO Headquarters: Singapore Net Revenue: 6.878 USO R&D investment: DBS's innovation efforts today are anchored around three big ideas: an increased focus on digitization to further enhance efficiency, making the customer ex- perience more interactive and intuitive, analytics and the use of Big Data, both structured and un- structured. To address the increasing pace of change and dis- ruption facing the banking industry, DBS knows that it needs the entire bank to embrace innovation. This implies a culture transformation and engaging start- ups in creating a more robust FinTech ecosystem. The focus of DBS is to evolve the culture, not neces- sarily to obtain a product of a startup. In order to drive a more innovative and digital mind- set, DBS supplemented its talent development pro- gramme with three-day hacking challenges, where staff are paired with startups to build mobile solu- tions addressing banking challenges. In 2015, around 800 employees were exposed to startups through various programmes including hackathons and accelerators. DBS is also experimenting with ways to improve its customer journey, such as reduc- ing inconveniences such as card retention at its AT Ms. To engage with startups, over the last four years, DBS has launched the following programs: INSEAD #500CORPORATIONS 44