DBS Bank India clinches two awards at ET BFSI Excellence Awards 2021

DBS Bank India’s persistent efforts to drive digital transformation for its customers have been awarded at the ET BFSI Excellence Awards 2021. An initiative of The Economic Times, ET BFSI Excellence Awards honours the best innovations & practices implemented by the BFSI industry in a dynamic and competitive environment.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

The bank has won two awards:

‘DBS Rapid (Real-time API)’ solution in the ‘Innovative API/Open Banking model’ category
‘Intelligent Banking’ in the ‘Best Digital Customer Experience initiative’ category.

About the award:

DBS Bank India was awarded in the ‘Innovative API/Open Banking model’ category for DBS RAPID. The bank has designed a real-time, digital payments solution for Transport Corporation of India Limited (TCI) – one of India’s largest transportation and logistics players.
This unique solution leverages the UPI, allowing TCI to make real-time advance payments to the transport owners enabling them to withdraw cash from any ATMs. The solution has resulted in an annual savings of 4.5 million hours for TCI and helped transport owners make timely deliveries.

Important takeaways for all competitive exams: