DBS fortifies NAV Planner with new AI-powered digital investment advisory feature
Bank’s new digital investment advisory feature can determine individualised investment risk profiles and make specific recommendations, providing customers with additional peace of mind and better protect their retirement nest egg.
All DBS/POSB retail customers can now access a new feature on DBS’ AI-powered financial and retirement planning tool NAV Planner, which will provide specific investment recommendations that are tailored to their investment profile. As customers increasingly take a self-directed approach to investing digitally, the bank has adopted a multi-dimensional approach to help investors determine their investment profiles to ensure they meet regulatory requirements before investing amid market volatility. This provides them additional peace of mind so that they can make more informed investment decisions to boost their personal finances.
To make the investing journey seamless, DBS has also streamlined several processes such as amalgamating the Customer Knowledge Assessment (CKA) and Customer Account Review (CAR) assessments a customer must take and pass, before being permitted to invest in more sophisticated products. This rigorous approach, dubbed “Make Your Money Work Harder”, is available via NAV Planner on DBS digibank online and mobile banking app. It mirrors the offline consultation a customer would have today with the bank’s Wealth Planning Managers (WPMs), which safeguards the interests of investors as they grow their retirement nest egg.
Evy Wee, Head of Financial Planning and Personal Investing, DBS Bank said “Our ongoing efforts to democratise access to wealth management services not only enable more people to participate in the markets, but also help mitigate their risks. We found that only one in 10 customers could successfully complete their investment journey, because they actually prefer a lot more hand holding. So with today’s launch, we are augmenting the advice our customers receive with the expertise of our funds selection team, where we prioritise funds which are positively-rated by the team. The additional expert guidance will help our customers overcome investment inertia, and for some who are already savvy investors, to make more informed investment decisions.”
For more information on DBS’ NAV Planner and the new digital investment advisor visit the NAV page at https://www.dbs.com.sg/personal/nav/index.page.