IT supports business strategy growth at the development bank of Singapore

Abstract

The Development Bank of Singapore (DBS Bank) undertook a major business planning exercise in the mid-1980s, as part of its overall strategy to gain a distinct competitive advantage in the banking industry. The Bank's strategic investment in information technology (IT) and the close collaboration between the Bank's business and IT functions has put the Bank in the forefront of the banking industry in Singapore. In 1992, DBS Bank won the National IT Award which is given in recognition to organizations in Singapore for achieving superior business performance through the strategic application of IT. The Bank's philosophy is to exploit the main strengths of its technological infrastructure to meet the needs of its corporate and retail customers. The Bank introduced a number of IT innovative applications in the late 1980s and has achieved a large market share and productivity improvement. The key to successful project management at DBS Bank is ‘scoping’. The Bank's mission for the 1990s is to leverage on its pre-eminent position in Singapore to be a leading bank in the Asia-Pacific region.