DBS Bank and Manulife to Co-Fund Digital Innovation

DBS Bank

DBS Bank

DBS Bank and Manulife Financial Asia today presented a joint fund to be invested in digital technology as part of their 15-year regional partnership agreement.

Part of the regional distribution agreement between DBS and Manulife, which was formally launched today, is a S$100 million fund to be invested in digital technology and other innovative solutions over the next 15 years, the companies said in a statement today. Already included in the suite of ideas is a commitment to spending on ‹RM Mobility› to augment the delivery and penetration of new products.

The 15-year partnership with the Singapore lender has already seen Manulife add some 160 employees in Singapore with a further 80 positions expected to be created this year.

Retirement and Insurance Needs

«With the establishment of the joint fund, we will be able to focus on the development of innovative solutions to serve Asia’s fast-growing consumer base, and help them to fulfil their retirement and insurance needs,» said Tan Su Shan, head of Consumer Banking & Wealth Management at DBS.

Through partnership, DBS’ six million retail, wealth and SME customers will gain access to Manulife’s suite of life and health solutions.

A Better Future for Customers

«As a result of this agreement, customers will benefit from DBS’s multi-channel approach, and take advantage of Manulife’s full range of innovative products which are tailored to suit all their financial needs,» said Roy Gori, CEO of Manulife Asia.

    

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