DBS Treasures, a leading wealth management service provider, has been focusing on customer obsession to meet the changing needs of affluent individuals and families. The bank has embraced a customer-centric culture that prioritizes empathy and understanding to ensure that every decision and service offered is aligned with clients’ ambitions. This approach has enabled DBS Treasures to transform its operations and deliver hyper-personalized services that put customers at the center of everything they do.
The bank has equipped its relationship managers with not just deep knowledge of investment products but also the skills to empathize with clients’ unique stories. This shift in culture has resulted in a more responsive customer journey that anticipates and satisfies individual circumstances. By offering a full spectrum of banking and financial services, DBS Treasures stands out as a bank that goes above and beyond to meet their clients’ requirements, resulting in a 15% year-on-year increase in investment and life insurance assets under management.
In addition to advanced digital tools and analytics, the bank also invests in gaining a deeper understanding of clients’ needs through various anthropological tools, feedback, surveys, and interviews. By grouping clients into micro-segments based on their unique needs, DBS Treasures can deliver customized solutions that align with each client’s financial goals and resonate with their lifestyles, habits, and aspirations. This holistic view allows the bank to anticipate needs that may not be immediately apparent from transactional data and alter solutions as clients’ situations change.
One example of DBS Treasures’ hyper-personalized approach is a program targeting clients in the Indian diaspora who have a need for regular fund remittances to India. By studying transaction data and speaking with clients, the bank identified this need and set up push notifications to alert clients of preferential remittance rates and promotions. This proactive approach has helped clients save costs and streamline the remittance process. DBS Treasures’ focus on anticipating and meeting clients’ needs has proven to be successful, as evidenced by the increase in AUM.
Many investors are looking for offshore global investment opportunities in reputable jurisdictions to diversify their investments. Some also have a need for onshore and offshore corporate banking, which has drawn clients to DBS due to its association with Singapore’s reputation as a safe and reputable jurisdiction for wealth management needs. The bank’s strong regulatory framework and innovative use of technology for customer due diligence ensure that clients’ assets are managed securely. DBS’s ability to connect clients’ onshore and offshore banking needs has solidified its reputation as a brand that resonates with investors seeking diversification strategies and reliable wealth management services.
