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DBS Vickers Powers Ahead With Digitalisation Plans as Asia’s Leading Trading House

DBS Vickers (DBSV), the brokerage arm of DBS Bank, continues to advance its ambition to become Asia’s leading digital trading house for funds, equities and structured notes with plans to double regional trading volume across its retail and institutional segments by 2025.

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The award winning[1] brokerage’s shift to digital has been in the making for the past several years, resulting in the introduction of several timely and innovative solutions for its customers, including online customer onboarding and direct debiting/ crediting for trades done across 11 exchanges in core markets such as Singapore, Hong Kong, the US and Thailand. This, coupled with accelerated efforts to ramp up capacity expansion to accommodate higher trading volumes, enabled DBSV to continue providing a seamless trading experience for its customers during the pandemic.

Lionel Lim, CEO of DBS Vickers, said, “Digital trading has become the new normal over the last few years and it is what customers have come to expect amid the Covid-19 pandemic. Digitalisation brings about not only greater speed and convenience, but also provides a way for us to share with our customers value-added offerings such as market insights through DBS Vicker’s online trading platform. By providing a safe and fully integrated digital platform where our clients can access trading, investment advisory and wealth management solutions, we are able to create greater customer stickiness. This also gives us an added avenue to explore cross-sell opportunities to grow our franchise by providing value-added services from other parts of the bank through our platform.”

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In testament to the success of DBSV’s digital trading platform, the monthly average of new accounts opened more than tripled in the first half of 2020 compared to the same period last year. Since 2017, all customer accounts onboarded to DBSV’s digital trading platform have already been multi-currency enabled.

Internally, DBSV enhanced its digital infrastructure to facilitate nimble collaboration between trading desks and support units. Despite the spike in trading volumes amid a more volatile market environment, DBSV’s 1H2020 income almost doubled year-on-year, even as majority of employees worked from home.

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