Singapore’s DBS Bank is using AI to power a financial and retirement planning tool.
In Brief:
It has added a new feature to offer investment recommendations.
These are tailored to each retail customer using AI.
Its planning tool, NAV Planner, already offers personalised nudges and recommendations.
What does this mean?
DBS says it has seen that customers are willing to invest digitally and want to be autonomous, but eight out of 10 customers haven’t invested over the past year. It hopes that in the same way it offers financial management recommendations it can also offer investment recommendations that customers will follow.
