DBS Hong Kong, under the leadership of Jolynn Wong, is revolutionizing digital banking by leveraging AI-driven innovation and its award-winning DBS IDEAL mobile banking app. The bank has made significant strides in empowering small and medium-sized enterprises (SMEs) through its bold, customer-centric strategy, which utilizes cutting-edge technologies such as artificial intelligence (AI) and machine learning (ML).
At the Hong Kong Business Technology Excellence Awards 2025, DBS Hong Kong won two major awards for its success in addressing the evolving needs of SMEs. The bank’s innovative digital solutions, including electronic identity document verification (eIDV), have streamlined the account opening process for Hong Kong incorporated entities to as fast as one working day. This has resulted in a near-half uplift of customers acquired digitally through this innovative solution.
DBS Hong Kong has also made significant progress in SME lending with its digital lending platform, offering fast-track financing and seamless application processes. The seamless online application process has reduced the time-to-cash by double-digit and achieved an over 30% year-on-year increase in the total limit of approved applications.
The bank’s digital innovations have had a significant impact on its financial performance, with a 70% growth in AI-driven revenue in 2024. DBS Hong Kong continues to stand out across a range of key metrics, from customer satisfaction to digital product offerings. The bank’s DBS IDEAL mobile banking app provides a seamless, feature-rich experience that empowers SMEs to manage their banking needs, with advanced digital banking solutions, such as seamless FX rate lock-in capabilities and enhanced merchant sale management.
The app also integrates advanced fraud detection and threat management capabilities, powered by ML and real-time integration with government databases, to safeguard the financial wellbeing of customers. Through the DBS IDEAL app, the bank continues to redefine the future of SME banking, empowering businesses to thrive in today’s digital age. The bank’s commitment to utilizing technologies such as AI and ML has elevated its service offerings, setting new standards in efficiency, customer experience, and technological integration.
DBS Hong Kong’s success has been recognized through its wins at the Hong Kong Business Technology Excellence Awards 2025, including the AI-Banking category and the Mobile-Banking category for its DBS IDEAL mobile banking app. The bank’s innovative solutions and commitment to digital innovation have positioned it as a leader in the industry, empowering SMEs to grow and thrive in the digital era.
The bank’s Managing Director and Head of Global Transaction Services, Jolynn Wong, emphasized the importance of AI-powered, mobile-first solutions in solving business pain points and driving growth. The bank’s focus on digital innovation and customer-centricity has enabled it to achieve significant growth and recognition in the industry. With its continued investment in digital solutions and commitment to empowering SMEs, DBS Hong Kong is poised to remain a leader in the digital banking space.