DBS India launches wealth administration with entry to 6 markets

MUMBAI: DBS India has launched an enhanced wealth administration providing, offering Indian clients with unified entry to cross-border treasury providers throughout key Asian markets, together with Singapore, Hong Kong, Taiwan, Indonesia, and China. This providing targets high-net-worth people (HNIs) and non-resident Indians (NRIs) in India and overseas. The financial institution additionally introduced the launch of a digital account opening course of for NRIs, permitting them to finish the method, excluding doc submission, inside an hour.
DBS Treasures, the financial institution’s premium banking service for purchasers with a complete relationship worth exceeding Rs 30 lakh, supplies entry to wealth administration options, skilled relationship managers, and unique privileges. In 2023, DBS launched the Vantage Card, an invite-only bank card with a collection of advantages for HNIs and worldwide vacationers. The financial institution has additionally streamlined its account opening course of for NRIs, permitting on-line purposes with view-access performance earlier than doc submission. This digital course of goals to cut back paperwork and improve comfort.
Coinciding with these bulletins, DBS inaugurated a brand new flagship department in Indiranagar, Bangalore. This department, the financial institution’s third within the metropolis, will deal with wealth administration providers to HNIs and NRIs.
“Having been in India for over 30 years, DBS has developed a sturdy understanding of the preferences of high-net-worth Indians, each within the nation and overseas. The sample of wealth creation in India has turn into extra decentralized, demanding a stronger regional presence,” mentioned Richa Tripathi, Head of Wealth Administration and Treasures at DBS Financial institution India. DBS Financial institution has a ‘phygital’ technique focusing on new wealth in India.” This “phygital” method combines the comfort of digital banking with the personalized effect of bodily branches, catering to a various buyer base with various preferences, mentioned Tripathi.
In accordance with DBS the monetary wealth of India’s prosperous reached $588 billion in 2023 and is projected to develop to $730 billion yearly by 2028.
“Bengaluru’s entrepreneurial ecosystem and rise in investable wealth make it a super marketplace for piloting our premium banking merchandise and propositions,” mentioned Tripathi. “Our on-line account opening answer for NRIs permits them to unlock extra worth by way of a seamless, location-agnostic expertise. Asia, with India on the coronary heart, is the rising epicentre of wealth and, as the biggest financial institution in Southeast Asia, we stay up for bringing all the benefits of our Asian connectivity to our Indian and NRI purchasers.”