DBS has unveiled a digital financial planning solution for all of its customers via their internet and mobile banking accounts.
NAV Planner will enable customers to independently plan and monitor their financial goals.
The solution will help customers visualise how smaller day-to-day financial decisions can lead to a substantial impact on longer-term financial goals.
It will also recommend suitable solutions and relevant educational guides for the customer.
The tool provides a dashboard view of the customer’s entire investment portfolio, breaking down the different vehicles they have, together with their monthly performance.
Making a difference
“Technology has helped the insurance, brokerage and wealth management industries scale up and reach more customers with their services,” said Jeremy Soo, Singapore head of consumer banking group at DBS. “But we’ve noticed that even with digitalisation, financial information is still held in silos.
“Those who wish to review their overall finances, either need to manually consolidate their holdings or look to their financial advisers to do so for them. Others who are not subscribed to these services are inadvertently left out.
“This is where we believe we can make a difference. NAV Planner leverages our digital expertise and data analytics to create a digital adviser for everyone that can not only consolidate, but also analyse and recommend.”
