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Singapore’s DBS Bank introduces world’s largest API developer platform

BBR Staff Writer Published 06 November 2017

Singapore-based DBS Bank has introduced a banking application programming interface (API) developer platform, which is claimed to be the largest platform in the world.

The platform will offer a range of APIs for other brands, corporates, fintechs and software developers.

With more relevant banking APIs for companies, the platform offers 155 APIs across more than 20 categories such as funds transfers, real-time payments and others.

Around 50 companies such as AIG, McDonald’s, MSIG, PropertyGuru and start-ups like Activpass, FoodPanda, Homage, and soCash are using the platform to offer better services.

Through partnering with DBS, Homage’s customers are redeeming their credit card reward points to arrange for a care assessment by a professional Homage Nurse and Care Specialist to determine the home care needs and requirements of the preferred persons.

DBS is also collaborating with governments, partners, fintechs, start-ups and other members of the ecosystem to provide effective banking services through using partner APIs.

DBS digibank in India, which is a complete bank in a phone, has around 1.6 million customers since its launch in April 2016.

DBS Bank group chief information officer David Gledhill said: “DBS embarked on a journey to transform our tech infrastructure nine years ago. With that early start, we are now ahead of many others in being digital to the core.

“This has given us an edge – enabling us to operate with fintech-like agility and nimbleness, and also platform-like inclusiveness. This will be transformative in ways not imagined previously, both for the customer and the bank.”

Image: DBS has launched world’s largest API developer platform. Photo: courtesy of DBS Bank Ltd.