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.
Anthony and James talk about how regulators in the US are falling behind other nations' regulators, the lack of talk about Reg AT, and an SRO for cryptocurrencies.Subscribe to Weekly Wrap emails