DBS launches paperless on-boarding for mutual fund customers

DBS Bank will now offer its digibank customers a paperless and ‘signatureless’ on-boarding on its mobile-only banking platform for investing in mutual funds.

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DBS Bank will now offer its digibank customers a paperless and ‘signatureless’ on-boarding on its mobile-only banking platform for investing in mutual funds. The mutual fund offering on digibank comes with instant paperless onboarding allowing investors to start investments instantly, a risk profiler, invest, sell and track mutual funds and SIPs on the go. Customers can make informed investment decisions with mutual fund performance data and research insights provided by Morningstar, an independent investment research providers.

“With digibank, our intention has always been to be digitally embedded in our customers’ evolving financial lifecycle and offering them a differentiated customer experience. With fast growing awareness of mutual funds and adoption of , customers are increasingly seeking to make their own investments online in a simple manner without having to depend on traditional channels. Thus, this offering makes paperless onboarding, tracking and redemption in mutual funds a reality within minutes for our digibank customers,” said Shantanu Sengupta, Managing Director & Head – Consumer Banking, Bank India.

DBS digibank has over 1.5 million customers since its successful launch in April 2016. It offers 7% interest on savings account along with new age payment options such as Bharat QR, and UPI. Additionally, customer service is provided by a 24×7 AI-driven Virtual Assistant and is powered by an intelligent, intuitive budget optimiser.

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