The Development Bank of Singapore (DBS) has unveiled a new bank branch concept it says will serve as a blueprint for the future of its branch network.
The flagship branch is located in the Marina Bay Financial Center Singapore (MBFC) and features a raft of high tech cash management and customer service solutions from innovation partner Wincor Nixdorf.
DBS boasts 200 branches in 15 markets and has 4 million customer accounts in Singapore alone.
The bank says it aims to largely eliminate waiting times through modern processes and technologies by accelerating the processing of standard transactions at the counter, thus freeing up more time for individual customer consulting. In addition, customers will be able to process a number of transactions around the clock in the self-service zone.
DBS is implementing Wincor Nixdorf’s Cash Cycle Management Solutions concept and the branch will be equipped with 22 CINEO systems from automated teller safes to cash recycling systems.
Wincor Nixdorf worked with DBS develop to develop the branch concept, implementing a customised model for automating cash processes at the counters and in the self-service zone.
Customers and employees alike benefit from simple and quick counter processes. Automated teller safes with recycling functionality take over the time-consuming task of counting and verifying banknotes, significantly reducing the time required by tellers to perform these tasks at the beginning and end of their shifts.
In the self-service zone, customers can use state-of-the-art systems for a variety of tasks such as depositing and withdrawing cash in addition to managing their savings accounts.
Following the launch phase, DBS plans to further optimise its cash processes. CINEO systems, with their standardised banknote cassettes, allow cash reserves from deposit-centric teller safes and cash recycling systems to be used to replenish withdrawal-centric systems, thus reducing the time and cost of handling cash.
Koh Cheng Hwee, Head of DBS Franchise, says the early experience from the soft-opening phase shows the bank has significantly improved customer service in both the branch and self-service zone with CINEO systems.
“DBS is looking forward to optimising cash management in the branch according to the CCMS approach to reduce the time and cost of cash handling,” he said.