DBS Bank launches ‘digiPortfolio’ for seamless investment portfolio management

Insight Online News

Hyderabad March 31 : DBS Bank India has announced an innovative investment solution, ‘digiPortfolio’, on its digibank platform.

digiPortfolio uses both technology and human expertise to create a set of investment options curated by Morningstar that match the risk preferences of different investors, the bank said in a release on Friday.
DBS is one of the first banks in India to offer this type of digital solution platform, an easy, one-stop solution for users to invest money with ready-made baskets of mutual funds.

DBS Bank aims to redefine the customer experience and make it more seamless by using data, AI, and advanced technologies.

The offering includes different types of investment options, such as domestic equity, debt, and money market instruments, to ensure there are diverse portfolios to cater to different risk profiles of investors.
The digiPortfolio platform is run by Quantifeed and is automated, making it easy to use.

Mr Prashant Joshi, Managing Director & Head – Consumer Banking Group, DBS Bank India, said, “India has witnessed increased participation of domestic retail investors in the burgeoning capital markets during the past two years.

However, the complex nature of mutual fund products and the risks involved have kept many prospective investors at bay. It is our endeavour that through digiPortfolio, many of our customers will be more confident about participating in the Indian capital markets,” he added.

Mr Dhaval Kapadia, Director – Portfolio Specialist, Morningstar, said, “The digiPortfolio begins with Morningstar’s ground-breaking research on long-term asset allocation. The investment options on the digiPortfolio platform are chosen and made up of mutual funds carefully selected by Morningstar, which relies on more than 37 years of industry research.

The portfolios are regularly adjusted to ensure they stay strong even when the market is volatile and give the best possible returns.

digiPortfolio provides instant access to investors with two plans starting at a minimum investment of Rs 10,000 and 50,000. These plans include features such as portfolio construction, monitoring, and rebalancing services, powered by Morningstar.

The Bank uses technology to make things faster, cheaper, and more efficient for investors. There are no extra charges, like sales or transaction fees. Investors can invest for as long as they want, choosing what suits them based on their goals, risk preferences, and investment duration.

Ross Milward, Chief Technology Officer & Co-Founder of Quantifeed, said, “We are convinced that digiPortfolio will continue to revolutionise the digital wealth landscape and bring customers a delightful and personalised investing experience.”


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