DBS marks golden jubilee with new vision to help customers ‘live more, bank less’

DBS CEO Piyush Gupta said that with the influx of data and rise of the sharing economy, its customers are now asking for a “new kind of banking”.
Business Insider/ Jonathan Loh

After more than a decade of championing its “Living, Breathing Asia” mantra, DBS Bank has dropped its old tagline in favour of a refreshed brand promise – “Live more, Bank less”.

The move comes in conjunction with the bank’s golden jubilee and preparations for a new era of banking.

At a media event marking the bank’s 50th anniversary on Tuesday (May 15), DBS CEO Piyush Gupta revealed that DBS had topped the list of the most valuable bank brands in Asean for six straight years, with a brand value of S$8.71 billion ($6.49 billion) in 2018.

He also highlighted DBS as the only Asian bank with a presence in what it considers its three key axes of growth, namely Greater China, South Asia and Southeast Asia.

Nonetheless, Gupta said that DBS could not afford to rest on its laurels given the rampant disruptions in the banking industry and changing customer demands, calling for a new vision relevant to the next phase of growth.

“In the last 10 years, we have successfully established ourselves as a leader in Asian banking. While we remain rooted to Asia, Asia is rapidly changing, like the rest of the world,” he said told his audience.

“With the ubiquity of the smartphone, the explosion of data and the rise of the sharing economy, customer behaviours are dramatically different from what they were before. Customers want a new kind of banking.”

And with that, comes “Live more, Bank less”, said to be DBS’ promise to enable customers to live hassle-free with invisible banking, encouraging them to live larger than themselves.

“With the digital revolution, banking is being fundamentally redefined. At 50, DBS, like banking, is at a crossroads. The ‘Live More, Bank Less’ ethos embodies the belief that the bank needs to remain at the forefront of change in the next 50 years,” said a statement by the bank.

It added that the brand promise is a reflection of the belief that in the digital era, it needs to deliver “simple, seamless and invisible” banking experiences that allow customers to invest more time into the people and things they care about.

DBS said it will roll out a brand campaign in all its markets over the next two months from this week, starting with Singapore.

A DBS spokesman told Business Insider that the bank is investing S$30 million into the campaign which comprises print, digital, out of home, cinema and content marketing.

Creative agency Tribal Worldwide Singapore was engaged to work on print advertising while production agency Moviola crafted an accompanying series of 10 ad vignettes which was released on DBS’ YouTube page and “Live more, Bank less” website.

Each video shows how the bank’s services and initiatives could assist its customers in various facets of life, such as wealth management, buying cars and making payments.

Here are some examples:

Youtube/ DBS

Youtube/ DBS

Youtube/ DBS

Since the adoption of the “Living, Breathing Asia” tagline in 2006, DBS had more than doubled its income to S$11.9 billion and nearly multiplied net profit by two-fold to S$4.39 billion.

The bank boasts a market capitalisation value of S$75 billion to date, placing it among the ranks of the top 40 most valuable banks globally.

DBS has also been awarded several accolades such as the “World’s Best Digital Bank” by Euromoney and “Asia’s Best Bank” by The Banker, Euromoney, IFR Asia and Global Finance.

Correction: The previous edition of this article stated that both Tribal Worldwide Singapore and Moviola worked on the ad vignette series. DBS has clarified that Tribal worked on print advertising while production agency Moviola produced the video series.