DBS to Start Innovation Lab in India

DBS Bank is looking to use India as a technology innovation hub, working in tandem with the yet-to-to-open lab in Singapore.

In April this year, the bank had announced to set up a technology centre out of Hyderabad, while launching India's first mobile-only bank with its offering Digibank.

In addition to the technology centre, the company now plans to set up an innovation lab, also in Hyderabad, to explore new applications based on emerging technologies such as augmented reality, big data analytics, Internet of Things, artificial intelligence (AI) and machine learning among others, the «Business Standard» reports.

According to Paul Cobban, chief operating officer, group technology and operations at DBS Bank, the bank is looking to hire about 2,000 engineers over the next 18 months who would be located in India and work in tandem with a yet-to-open innovation lab in Singapore.

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