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DBS Bank to invest $20 million to build a digitally-ready workforce

Nurdianah Md Nur | Aug. 25, 2017
The DBS programme is designed to encourage large-scale participation and digital adoption by its 10,000 Singapore-based employees.

DBS building
Credit: DBS Bank

DBS Bank will be investing S$20 million over five years to upskill its 10,000 Singapore-based employees in an effort to enable them to thrive in the digital economy and adapt to the future of work.

Comprising four aspects, the DBS programme is designed to encourage large-scale participation and digital adoption by all bank employees.

Firstly, DBS Bank has launched a new cloud-based learning management system called DBS Horizon, which is powered by learning management solution Saba. Using artificial intelligence, DBS Horizon will suggest courses according to the individual's career aspirations and passions. It also allows users to learn at any time and from anywhere.

The bank has also designed and curated a digital curriculum to help its employees learn about digital disruption and transformation via blended learning solutions, a combination of bite-sized e-learning modules and classroom sessions. Topics covered include understanding the digital business model, adopting agile methodologies, journey thinking and how to use technology as business enablers.

Secondly, employees are allowed to go on paid sabbaticals to work on prototypes and start their own business. They can also tap on the mentorship and funding provided by the bank to grow their concepts into prototypes.

According to DBS Bank, by giving employees the opportunity to try their hands on building a business from scratch, they will learn to think like digital natives.

Thirdly, the bank will continue offering scholarships to employees to further their skills in emerging technologies such as data and analytics, design thinking, and automation. These employees are then encouraged to share their learnings with their peers, creating a culture of peer-to-peer learning.

To date, 130 scholars have shared their knowledge with more than 1,000 of their peers.

Besides that, employees  (up to Senior Associate level) can use their S$500 DBS SkillsFlex credits to learn new skills through customised courses offered by the bank, or choose from over 16,000 courses in the government's SkillsFuture Credit Course Directory.

More than 1,300 employees have used their DBS SkillsFlex Credit to upskill themselves this year.

Finally, DBS Bank has also invested in innovative learning spaces for its employees including the DBS Academy and DBS Asia X. More than 10,000 training sessions are conducted at the DBS Academy each year and employees have access to a wide selection of courses, such as scenario-based leadership development programmes and digital master classes.

Meanwhile, DBS Asia X is a purpose built innovation facility for DBS employees to come together, design and develop iconic customer journeys and work in close collaboration with start-ups and the broader FinTech community.

Lee Yan Hong, Group Head of Human Resources, DBS Bank said: "As the financial sector evolves, the profile of jobs will change and we are committed to helping our people adapt and embrace digital transformation through innovative and immersive continuous learning programmes. An agile and innovative workforce will also make Singapore's Smart Nation ambition a reality and along with this, we are making significant investments to groom a generation of digital bankers, strengthening Singapore's talent pool."

 

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