Pivotal partners with DBS, Singapore’s largest bank and a leading bank in Asia, making DBS the first bank in Southeast Asia to run cloud native applications on Pivotal Cloud Foundry.
By leveraging Pivotal’s Cloud Foundry platform, DBS will now be able to operate and deliver services to its customers exponentially faster, as well as build next-generation applications and user experiences.
SAN FRANCISCO, Calif., August 29, 2016 – Pivotal®, the company accelerating digital transformation for enterprises, today announced a partnership with DBS, Singapore’s largest bank and a leading bank in Asia. This collaboration will help the company accelerate its digital transformation journey and innovation for customers, and makes DBS the first bank in Southeast Asia to run cloud native applications on Pivotal Cloud Foundry, progressing from traditional legacy systems to a highly scalable and flexible environment.
Through the adoption of Pivotal’s leading modern cloud platform, Pivotal Cloud Foundry®, DBS will have the foundation to innovate at a speed and velocity primarily associated with Silicon Valley giants. More specifically, by leveraging Pivotal’s cloud platform in its banking architecture transformation, DBS is now able to operate and deliver services to its customers exponentially faster, as well as build next-generation applications and user experiences rapidly, and update them with new features that will evolve with customer needs.
“The banking industry has long been saddled with legacy systems that can hinder the speed of innovation,” said Lionel Lim, Vice President and Managing Director, APJ, Pivotal. “DBS is a progressive bank that is laying the right foundation to digitally transform their operations to innovate like a software company. We are pleased to collaborate with DBS on this important transformation milestone.”
Through this collaboration with Pivotal, DBS is positioned to reinvent banking and redefine the banking experience for over 6 million consumer and corporate customers across Asia.
“Like many traditional industries, the banking sector is being disrupted by agile start-ups and fintech companies that are delivering a differentiated experience to customers. To compete effectively against these new entrants, DBS must have the ability to be responsive to customers. Pivotal Cloud Foundry gives us the software platform to think and act like a technology company and innovate at start-up speeds,” said DBS Head of Group Technology and Operations David Gledhill. The built-in automation of Pivotal’s cloud platform also means DBS can now focus on delivering differentiated value, instead of being caught up with systems management and IT resource procurement. As a start, DBS is leveraging the Pivotal solution to build next-generation credit risk management systems and funds transfer pricing systems for the bank, as well as other systems.
The move to adopt the cloud platform for application development underlines DBS’ commitment to digitally transform its operations from the front office to back-end processes, advancing its march to become a software company. As part of the collaboration, Pivotal is also working with DBS to equip the bank’s application development team with the next-generation software development services of Pivotal Labs, entrenching the culture of software innovation, usually associated with Silicon Valley’s most influential companies, right in the heart of a Singapore-headquartered bank.
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been conferred “Asia’s Best Bank” by The Banker and Euromoney, and “Asian Bank of the Year” by IFR Asia. The bank has also been named “Safest Bank in Asia” by Global Finance for seven consecutive years from 2009 to 2015.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
Pivotal combines our cloud-native platform, developer tools, and unique methodology to help the world’s largest companies transform the way they build and run their most important applications. Our technology is used by Global 2000 companies to achieve strategic advantages in software development and IT operations.
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