DBS Bank’s marketing playbook: Purpose-driven storytelling and the future of financial branding

In today’s competitive financial landscape, banks are rethinking their approach to marketing. DBS Bank, ranked as the Association of Southeast Asian Nations’ (Asean) most valuable bank brand for the 18th straight year last year, has adopted a unique storytelling-led strategy to stand out. In this conversation with Mint, Karen Ngui, managing director (MD) and head of DBS Foundation and DBS Group Strategic Marketing and Communications, discusses how the bank is building a purpose-driven brand by embracing digital transformation, championing sustainability and engaging younger audiences through innovative content. Ngui delves into DBS’s shift from traditional marketing to a more integrated, purpose-led approach—with real stories, digital tools and responsible artificial intelligence (AI) at the core. Edited excerpts:
How does DBS view its journey and growth potential in India, and how has marketing played a role in this journey?
India is a key market for us. We celebrated our 30-year milestone in the country last year. In 2016, DBS launched Digibank in India, our first fully digital and paperless banking experience, which was a significant move.
We chose India for this because of the market’s potential and readiness to embrace digital solutions. Marketing has been pivotal in positioning DBS as a digital-first, purpose-driven brand. It’s not just about promoting products, but about showing how we can solve real customer problems and enable people to live more, bank less.
In a competitive market, what is DBS’s unique value proposition from a marketing standpoint?
Our brand promise—Live More, Bank Less—is what sets us apart. It’s about making banking effortless, so customers can focus on living their best lives.
We’ve been named Asean’s most valuable bank brand for the 18th year in a row in 2024, which speaks to our core values of trust and safety. But beyond that, our marketing approach is purpose driven. We want to be seen as a bank that understands customer needs and delivers solutions that help them grow—both personally and professionally.
You’ve taken a unique storytelling approach with campaigns like ‘Sparks’. How did that shape your brand narrative?
Sparks was born from our belief that people connect with stories, not products. It started with our India campaign ‘Chilli Paneer’ in 2013-14, which showed us the power of storytelling in marketing.
We then launched ‘Sparks’ in 2016, a web series inspired by real customer stories. It’s been hugely successful, with over a billion views across three seasons.
What sets us apart is our focus on ‘story-doing’ rather than just storytelling. These aren’t fictional narratives—they’re real stories of impact. Customers, especially younger audiences, resonate with this approach, seeing banking as a way to create meaningful change in the world.
How does DBS adapt its marketing approach to different markets, especially in India?
Personalization is key. We use data and analytics to ensure our marketing resonates with the right audience.
In India, the appetite to try new technologies is very high, especially among younger audiences. That gives us a great opportunity to pilot new initiatives here. For example, when we launched Digibank, we were able to showcase a revolutionary banking experience that was signature-less, paperless and branchless. The Indian market’s willingness to embrace innovation helped us scale that model across other regions.
How is DBS preparing for the future, particularly with regard to sustainability and community impact?
Sustainability is at the core of our brand. It’s our third wave of transformation, after the Asia wave and the digitalization wave.
Through the DBS Foundation, we’ve committed 1 billion Singapore dollars over 10 years to support social enterprises and community initiatives. Our focus is on providing everyday essentials like food, shelter and improving financial literacy for underserved communities.
We’re also preparing for the challenge of aging societies. Markets like Singapore, Hong Kong and China are seeing a growing aging population. We’re investing in innovative solutions to support this demographic, ensuring older generations can live with dignity and purpose.
It’s not just about financial support; it’s about creating a positive societal impact through our business practices.
What marketing challenges do you face with younger generations like Gen Z?
Gen Z is a very purpose-driven generation. They want to engage with brands that align with their values. Our marketing strategy reflects that. It’s not about selling products—it’s about showing real impact. Campaigns like ‘Sparks’ resonate with them because they’re grounded in real-life stories of purpose and impact.
We’re also leveraging digital content and online communities to stay relevant. It’s about being authentic and engaging, not just transactional.
How does DBS ensure data privacy and responsible AI use in its marketing efforts?
As a bank, customer trust is everything. Data privacy is sacrosanct for us.
We’ve introduced DBS GPT, our in-house AI tool, to ensure secure use of AI technologies within the bank. We have strict protocols around responsible AI usage and scam prevention.
Educating customers about digital safety is also a priority. It’s not enough for us to protect data; we must help our customers navigate the digital world safely.
Final thoughts—what’s your vision for marketing at DBS in the years ahead?
Marketing at DBS is both an art and a science. It’s not just about getting more customers to sign up. It’s about helping people understand who we are and what we stand for.
We’ve always believed in transforming banking, and to do that, we also need to transform the future of marketing. It’s about creating impact beyond banking and being a brand that people trust, relate to, and want to engage with.
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