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DBS Bank opens its branch in India in the city of Lucknow

By Edil Corneille

January 29, 2021

  • DBS
  • India
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DBS, bank, Singapore, payments, API, Asia, digital banking, credit, blockchain, open banking, financial inclusion, AI, DBS Bank India Limited (DBIL) announced the launch of its first branch in Lucknow, the capital city of Uttar Pradesh. The branch offers a comprehensive portfolio of diversified financial products and services to small and medium businesses as well as consumer banking customers.

Prashant Joshi, Managing Director and Head of National Distribution said, “Lucknow is an integral part of our India expansion strategy, and we are pleased to broaden access to our suite of banking products and solutions through our branch in the city. The city has witnessed a strong adoption of digital payments recently, augmented by sustained efforts from the state. We believe that our unique digital proposition complemented by our physical footprint enables us to be well-positioned to serve customers in the market.”

DBS Bank has designed solutions to cater to customers across their banking lifecycle, making banking simpler for time-strapped business owners. Some of the key solutions include Express Business Account opening, DBS Digital Business Loans and a range of collection solutions including UPI Collect and NACH Debit Collections. The bank’s customised offerings are complemented by the digital transaction platforms, such as IDEAL, for regular banking transactions and trade requirements, DealOnline, for online forex trading and Loan Servicing Portal, for enquires and status updates. DBS Bank offers an array of working capital and trade finance options, including FCY Term Loan, Packing Credit, Bank Guarantee, Letter of Credit, Foreign Currency Hedging, etc.

DBS has designed end-to-end digitised solutions to seamlessly interweave banking into a customer’s everyday life, by making it a part of their ecosystem. It introduced digibank in 2016 and has acquired ~1 million savings accounts since its launch. In addition to savings accounts, digibank provides unsecured loans and is the first to offer paperless onboarding for mutual fund investments from multiple fund houses. DBS also provides a compelling suite of services and wealth solutions through DBS Treasures. These include accelerated account opening services globally, an all-in-one digital banking and wealth management platform, remittance services and 40+ exclusive signature experiences and bespoke privileges to its customers. The bank recently introduced ‘Travel Now’, a one-stop travel marketplace within the digibank app that enables customers to browse and book flights, bus tickets, and hotels. It also allows them to opt for travel insurance with an automated claims process for flight cancellation, and flight departure and arrival delays of over 60 minutes.

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