Transforming SME Banking through the Hyper-personalisation of Joy, DBS’ Corporate Banking Virtual Assistant Qorus Banking Innovation Awards 2021

With DBS’ vision to “Live More,” and “Bank Less” in mind; we began this project with the aim of helping our customers achieve their banking needs whilst making the process more convenient and intuitive for them. The recent digital acceleration in the financial industry has caused radical changes, necessitating a different approach in our customer servicing frameworks in order to extend our reach and improve our customer experiences. Traditional call-centre servicing models are no longer scalable due to the increasing demand for improved customer experience, cost models and instantaneous fulfilment to be delivered anytime and anywhere. Thus, it has become crucial for DBS to utilise Artificial Intelligence (AI) and emerging technology to transform the customer servicing model and deliver the best digital customer experience. DBS’ Chatbot Joy, Asia’s first corporate banking ‘virtual assistant’ serves as a scalable omnichannel touchpoint capitalising on AI. Joy has evolved from a Digital Servicing Model solution into a ‘Transactional Concierge’ (providing instant fulfilment at source), enhanced to create a hyper-personalised experience for customers by: • Proactively reaching out to them • Tailoring recommendations on products and services • Apposite information flows • Granting instantaneous digital fulfilment Being a customer centric entity, our team is consistently seeking to show our care for their difficulties and struggles. This has motivated us to constantly question and improve the status quo by exploring new ways of leveraging analytics and AI in order to create and maintain the ideal personalised customer experience and relationship.