DBS and Keppel to Collaborate Under MOU

Under the memorandum of understanding (MOU), the two sides will collaborate on a range of initiatives that harness digital technologies to better serve customers and suppliers.

DBS Bank and Keppel Technology & Innovation have agreed to work together on digital technologies to create more opportunities and efficiencies for both companies, according to an announcement on Tuesday.

Three areas are covered under the MOU: exploring synergies between Keppel Group’s consumer businesses like M1, Keppel Electric and City Gas, and DBS’ consumer marketplace platforms; developing 5G-enabled digital banking solutions, and developing digital tools and platforms to provide bundled services from both M1 and DBS to large corporates and small-to-medium enterprises (SMEs); and providing digital supply chain financing solutions to Keppel Group’s supplier ecosystem.

The initiatives will be rolled out over the rest of the year, the announcement said.

The value of knowledge grows when it is shared. Our collaboration with Keppel’s ecosystem of businesses exemplifies this by demonstrating how the cross-pollination of expertise and networks from different industries can help Singapore seize new opportunities here and in the global marketplace, Tan Su Shan, DBS group head of institutional banking, said about the partnership.