Singapore-based DBS has signed IBM's Watson Group to handle big data requirements in its wealth management division.
The second half of the year will see DBS take on Watson Engagement Adviser, a cloud-based offering that focuses on customer service, marketing and sales. As part of the deal, the bank will also take a host of other services from Big Blue, including analytics packages.
"In the digital era, consumers' ability to access information and make choices has changed dramatically, and new technologies are revolutionising our way of life," says Piyush Gupta, CEO at DBS. "To remain relevant, we need to continuously innovate. At DBS, we have been on a journey to shape the future of banking, and this collaboration with IBM enables us to explore ways to better harness data, providing more precise, customized and quality solutions that correspond to our clients' needs."
IBM's Watson Group was announced yesterday at an event in New York. Focusing on cloud-delivered big data solutions, it will have a $1 billion investment from the firm.
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails