DBS: Digital transformation to best bank in the world
Publication Type
Case
Publication Date
6-2020
Abstract
This case covers the period from 2014 to 2020, when DBS embarks on the its second strategy under the stewardship of Piyush Gupta. The aim is to become the Best Bank in the World (BBIW) by 2020. The bank reaches its objectives in 2019 and continues to garner more banking accolades. Building on Strategy 1.0 that is implemented from 2010 to 2014 to shape the bank up to international standards, DBS’s Strategy 2.0 focuses on “Making Banking Joyful” through three key tenets: (1) digital to the core; (2) being customer obsessed; (3) creating a start-up culture. This case illustrates the requisite leadership and operational capabilities to translate the digital transformation vision into a strategy. It explains how the bank leverages technology as part of its strategy to make banking invisible for its customers, for example, by initially engaging employees through the adoption of hackathons and design thinking. The case also discusses how the bank successfully developed a start-up culture bringing everyone on the same understanding and developing digital tools. Finally, this case highlights the need for the top management team to canvass its Board’s endorsement and investment support for a transformation of such size, scale, and duration. Students will 1) discuss what comprises a digital strategy; 2) appreciate the role and influence of leadership on translating digital vision into strategy; 3) understand what it takes to be successful in implementing a digital strategy; 4) appreciate the importance of building the right technology architecture that supports and sustains digital transformation; 5) understand how to leverage key digital tools; 6) examine what can be replicated from the DBS experience to other organisations.
Keyword(s)
Strategy, organizational transformations, information technology, disruptive innovation, strategic leadership, design thinking
Discipline
Asian Studies | Finance and Financial Management | Strategic Management Policy | Technology and Innovation
Research Areas
Finance
Data Source
Field Research
Industry
Banking
Geographic Coverage
Singapore
Temporal Coverage
2019
Education Level
Executive Education; Postgraduate; Undergraduate
Publisher
Singapore Management University
Case ID
SMU-20-0015
Additional URL
https://cmp.smu.edu.sg/case/4426
Comments
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